BioMarin Pharmaceutical (NASDAQ:BMRN) Lowered to “Market Perform” Rating by Leerink Partners

BioMarin Pharmaceutical (NASDAQ:BMRN) was downgraded by equities research analysts at Leerink Partners from an “outperform” rating to a “market perform” rating in a research note issued to investors on Wednesday, Marketbeat reports. They currently have a $60.00 price target on the biotechnology company’s stock, down from their previous price target of $82.00. Leerink Partners’ target price points to a potential upside of 11.34% from the company’s previous close.

A number of other equities analysts also recently issued reports on the stock. HC Wainwright dropped their price objective on shares of BioMarin Pharmaceutical from $60.00 to $55.00 and set a “neutral” rating on the stock in a research note on Monday, October 27th. Tudor Pickering set a $88.00 target price on BioMarin Pharmaceutical in a research report on Monday, November 3rd. Raymond James Financial initiated coverage on BioMarin Pharmaceutical in a research report on Wednesday, September 3rd. They issued an “outperform” rating and a $85.00 price target for the company. Zacks Research cut BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. Finally, Barclays reduced 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. Sixteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $88.61.

BioMarin Pharmaceutical Stock Performance

BMRN stock opened at $53.89 on Wednesday. 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 business has a 50-day moving average price of $53.83 and a 200 day moving average price of $56.01. The company has a market capitalization of $10.35 billion, a P/E ratio of 20.26, a PEG ratio of 0.92 and a beta of 0.30. BioMarin Pharmaceutical has a 1-year low of $50.76 and a 1-year high of $73.51.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results 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 business had revenue of $776.13 million for the quarter, compared to the consensus estimate of $782.42 million. BioMarin Pharmaceutical had a return on equity of 9.53% and a net margin of 16.82%.The firm’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.91 earnings per share. BioMarin Pharmaceutical has set its FY 2025 guidance at 3.500-3.600 EPS. As a group, equities research analysts forecast that BioMarin Pharmaceutical will post 3.15 EPS for the current fiscal year.

Institutional Trading of BioMarin Pharmaceutical

A number of institutional investors have recently bought and sold shares of the stock. Tokio Marine Asset Management Co. Ltd. increased its stake in BioMarin Pharmaceutical by 0.9% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 22,523 shares of the biotechnology company’s stock valued at $1,592,000 after purchasing an additional 197 shares in the last quarter. Securian Asset Management Inc. grew its holdings in shares of BioMarin Pharmaceutical by 1.4% during the second quarter. Securian Asset Management Inc. now owns 14,604 shares of the biotechnology company’s stock valued at $803,000 after buying an additional 197 shares during the last quarter. Sittner & Nelson LLC increased its position in shares of BioMarin Pharmaceutical by 6.9% in the 2nd quarter. Sittner & Nelson LLC now owns 3,100 shares of the biotechnology company’s stock valued at $170,000 after acquiring an additional 200 shares during the period. Grandfield & Dodd LLC increased its position in shares of BioMarin Pharmaceutical by 1.2% in the 3rd quarter. Grandfield & Dodd LLC now owns 18,967 shares of the biotechnology company’s stock valued at $1,027,000 after acquiring an additional 217 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in BioMarin Pharmaceutical by 3.4% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 7,151 shares of the biotechnology company’s stock worth $387,000 after acquiring an additional 235 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.