HC Wainwright Issues Positive Forecast for BioMarin Pharmaceutical (NASDAQ:BMRN) Stock Price

BioMarin Pharmaceutical (NASDAQ:BMRN) had its target price increased by HC Wainwright from $55.00 to $60.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a neutral rating on the biotechnology company’s stock.

BMRN has been the topic of several other research reports. Leerink Partners cut BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $82.00 to $60.00 in a report on Wednesday, December 3rd. Stifel Nicolaus reissued a “hold” rating and issued a $61.00 price target (down from $73.00) on shares of BioMarin Pharmaceutical in a research note on Thursday, November 6th. Wedbush restated an “outperform” rating and issued a $94.00 price target on shares of BioMarin Pharmaceutical in a report on Tuesday, October 28th. Leerink Partnrs lowered shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 3rd. Finally, Truist Financial lowered their target price on shares of BioMarin Pharmaceutical from $90.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, October 28th. Sixteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and a consensus price target of $88.83.

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock opened at $59.28 on Monday. The stock has a market capitalization of $11.39 billion, a P/E ratio of 22.29, a P/E/G ratio of 1.02 and a beta of 0.30. BioMarin Pharmaceutical has a 12-month low of $50.76 and a 12-month high of $73.51. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.83 and a quick ratio of 3.10. The firm’s 50-day moving average is $53.81 and its two-hundred day moving average is $55.64.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Monday, October 27th. The biotechnology company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.20). The firm had revenue of $776.13 million for the quarter, compared to analysts’ expectations of $782.42 million. BioMarin Pharmaceutical had a net margin of 16.82% and a return on equity of 9.53%. The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.91 EPS. BioMarin Pharmaceutical has set its FY 2025 guidance at 3.500-3.600 EPS. Equities analysts predict that BioMarin Pharmaceutical will post 3.15 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC grew its stake in BioMarin Pharmaceutical by 90.7% during the second quarter. AQR Capital Management LLC now owns 5,580,573 shares of the biotechnology company’s stock worth $306,429,000 after buying an additional 2,654,768 shares during the period. Capital Research Global Investors lifted its holdings in shares of BioMarin Pharmaceutical by 547.5% during the 3rd quarter. Capital Research Global Investors now owns 2,537,596 shares of the biotechnology company’s stock valued at $137,436,000 after acquiring an additional 2,145,717 shares in the last quarter. Norges Bank purchased a new stake in BioMarin Pharmaceutical during the 2nd quarter worth $112,352,000. Viking Global Investors LP increased its holdings in BioMarin Pharmaceutical by 13.8% in the 2nd quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company’s stock valued at $675,505,000 after purchasing an additional 1,488,552 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in BioMarin Pharmaceutical by 212.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,592,963 shares of the biotechnology company’s stock valued at $112,607,000 after purchasing an additional 1,083,512 shares during the period. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical Inc is a biopharmaceutical company specializing in the development and commercialization of therapies for rare genetic and metabolic diseases. The company focuses on addressing unmet medical needs by leveraging enzyme replacement therapy, small molecule pharmacological chaperones and gene therapy technologies. Headquartered in Novato, California, BioMarin operates research and development facilities in the United States and Europe.

The company’s commercial portfolio includes several approved therapies targeting inherited disorders.