Cantor Fitzgerald Reaffirms Overweight Rating for BioMarin Pharmaceutical (NASDAQ:BMRN)

BioMarin Pharmaceutical (NASDAQ:BMRN)‘s stock had its “overweight” rating reiterated by Cantor Fitzgerald in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $86.00 target price on the biotechnology company’s stock. Cantor Fitzgerald’s price target would indicate a potential upside of 55.42% from the company’s current price.

Several other analysts have also issued reports on the company. Piper Sandler boosted their target price on BioMarin Pharmaceutical from $88.00 to $90.00 and gave the company an “overweight” rating in a research note on Tuesday, September 1st. Weiss Ratings cut shares of BioMarin Pharmaceutical from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, September 18th. Citigroup upped their price target on shares of BioMarin Pharmaceutical from $75.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Canaccord Genuity Group upped their price target on shares of BioMarin Pharmaceutical from $111.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Finally, BMO Capital Markets restated an “outperform” rating on shares of BioMarin Pharmaceutical in a research note on Wednesday, September 16th. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $88.75.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN traded up $0.66 during mid-day trading on Tuesday, hitting $55.33. The stock had a trading volume of 146,295 shares, compared to its average volume of 2,083,820. The firm has a market cap of $10.71 billion, a P/E ratio of 149.21, a PEG ratio of 0.38 and a beta of 0.22. The business has a fifty day moving average price of $62.73 and a 200-day moving average price of $58.67. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.39 and a quick ratio of 1.32. BioMarin Pharmaceutical has a 52 week low of $49.26 and a 52 week high of $70.98.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results on Thursday, August 6th. The biotechnology company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.25. The firm had revenue of $989.71 million for the quarter, compared to analyst estimates of $932.03 million. BioMarin Pharmaceutical had a return on equity of 5.32% and a net margin of 2.14%. The business’s revenue was up 20.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.44 earnings per share. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. On average, equities research analysts expect that BioMarin Pharmaceutical will post 4.10 EPS for the current year.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Institutional investors have recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust increased its stake in BioMarin Pharmaceutical by 70.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 453 shares of the biotechnology company’s stock worth $26,000 after acquiring an additional 187 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of BioMarin Pharmaceutical in the 2nd quarter worth $39,000. Keating Financial Advisory Services Inc. bought a new position in shares of BioMarin Pharmaceutical in the 2nd quarter worth $56,000. Parallel Advisors LLC increased its holdings in shares of BioMarin Pharmaceutical by 33.9% in the 1st quarter. Parallel Advisors LLC now owns 1,768 shares of the biotechnology company’s stock worth $100,000 after buying an additional 448 shares during the last quarter. Finally, Plato Investment Management Ltd bought a new position in shares of BioMarin Pharmaceutical in the 2nd quarter worth $115,000. 98.71% of the stock is currently owned by institutional investors.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc is a biotechnology company focused on developing and commercializing therapies for serious and life-threatening rare diseases. The company’s research and development efforts center on genetic and metabolic disorders, where patient populations are often small and treatment options are limited.

BioMarin’s marketed products include Voxzogo (vosoritide) for children with achondroplasia and open growth plates, Palynziq (pegvaliase) and Kuvan (sapropterin dihydrochloride) for phenylketonuria, Brineura (cerliponase alfa) for late-infantile neuronal ceroid lipofuscinosis type 2, Vimizim (elosulfase alfa) for Morquio A syndrome, and Naglazyme (galsulfase) for mucopolysaccharidosis VI.