BioMarin Pharmaceutical (NASDAQ:BMRN) Given New $60.00 Price Target at HC Wainwright

by · The Markets Daily

BioMarin Pharmaceutical (NASDAQ:BMRN – Get Free Report) had its price target hoisted by research analysts at HC Wainwright from $55.00 to $60.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the biotechnology company’s stock. HC Wainwright’s price target suggests a potential downside of 1.88% from the stock’s previous close.

Several other research firms have also commented on BMRN. Tudor Pickering set a $88.00 target price on BioMarin Pharmaceutical in a report on Monday, November 3rd. Sanford C. Bernstein decreased their price target on BioMarin Pharmaceutical from $95.00 to $88.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. JPMorgan Chase & Co. raised their price objective on shares of BioMarin Pharmaceutical from $116.00 to $119.00 and gave the stock an “overweight” rating in a research note on Thursday, October 9th. Barclays cut their target price on shares of BioMarin Pharmaceutical from $86.00 to $80.00 and set an “overweight” rating for the company in a report on Tuesday, October 28th. Finally, Wolfe Research reiterated an “outperform” rating on shares of BioMarin Pharmaceutical in a research note on Tuesday, October 28th. Sixteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and an average price target of $88.83.

Read Our Latest Report on BMRN

BioMarin Pharmaceutical Trading Up 17.7%

Shares of BioMarin Pharmaceutical stock opened at $61.15 on Monday. The stock has a market cap of $11.75 billion, a PE ratio of 22.99, a price-to-earnings-growth ratio of 1.02 and a beta of 0.30. The firm has a fifty day moving average price of $53.67 and a 200 day moving average price of $55.61. BioMarin Pharmaceutical has a 1 year low of $50.76 and a 1 year 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.

BioMarin Pharmaceutical (NASDAQ:BMRN – Get Free Report) last posted its quarterly earnings results on Monday, October 27th. The biotechnology company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.20). The business had revenue of $776.13 million during 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%. BioMarin Pharmaceutical’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.91 earnings per share. BioMarin Pharmaceutical has set its FY 2025 guidance at 3.500-3.600 EPS. Equities research analysts predict that BioMarin Pharmaceutical will post 3.15 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in BMRN. AIA Group Ltd increased its holdings in BioMarin Pharmaceutical by 10.1% in the 3rd quarter. AIA Group Ltd now owns 4,097 shares of the biotechnology company’s stock worth $222,000 after acquiring an additional 377 shares in the last quarter. Hudson Bay Capital Management LP lifted its holdings in BioMarin Pharmaceutical by 31.8% during the third quarter. Hudson Bay Capital Management LP now owns 693,894 shares of the biotechnology company’s stock valued at $37,581,000 after purchasing an additional 167,474 shares in the last quarter. Allworth Financial LP grew its position in shares of BioMarin Pharmaceutical by 58.9% in the third quarter. Allworth Financial LP now owns 4,201 shares of the biotechnology company’s stock valued at $228,000 after purchasing an additional 1,557 shares during the period. IFP Advisors Inc raised its position in shares of BioMarin Pharmaceutical by 35.7% during the 3rd quarter. IFP Advisors Inc now owns 2,373 shares of the biotechnology company’s stock worth $129,000 after purchasing an additional 624 shares during the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new position in BioMarin Pharmaceutical in the 3rd quarter valued at about $372,000. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Company Profile

(Get Free Report)

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.

Featured Articles