HC Wainwright Reiterates Neutral Rating for BioMarin Pharmaceutical (NASDAQ:BMRN)

BioMarin Pharmaceutical (NASDAQ:BMRN)‘s stock had its “neutral” rating restated by stock analysts at HC Wainwright in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $60.00 target price on the biotechnology company’s stock. HC Wainwright’s target price points to a potential downside of 6.85% from the company’s previous close.

Several other analysts have also issued reports on the company. Morgan Stanley increased their price objective on BioMarin Pharmaceutical from $119.00 to $124.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Bank of America lowered their target price on BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, May 19th. BMO Capital Markets assumed coverage on shares of BioMarin Pharmaceutical in a research note on Wednesday, August 19th. They set an “outperform” rating and a $98.00 price target on the stock. Piper Sandler raised their price objective on BioMarin Pharmaceutical from $88.00 to $90.00 and gave the company an “overweight” rating in a research note on Tuesday, September 1st. Finally, Oppenheimer lifted their target price on shares of BioMarin Pharmaceutical from $95.00 to $97.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, BioMarin Pharmaceutical has a consensus rating of “Moderate Buy” and a consensus target price of $89.17.

BioMarin Pharmaceutical Stock Down 0.3%

BioMarin Pharmaceutical stock opened at $64.41 on Thursday. The firm has a market cap of $12.47 billion, a PE ratio of 174.08, a P/E/G ratio of 0.46 and a beta of 0.24. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.32 and a current ratio of 2.39. The firm’s 50 day moving average price is $63.03 and its two-hundred day moving average price is $58.44. BioMarin Pharmaceutical has a twelve month low of $49.26 and a twelve month 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 analysts’ consensus estimates of $0.95 by $0.25. BioMarin Pharmaceutical had a net margin of 2.14% and a return on equity of 5.32%. The company had revenue of $989.71 million during the quarter, compared to analyst estimates of $932.03 million. During the same quarter last year, the business posted $1.44 EPS. The company’s revenue for the quarter was up 20.0% on a year-over-year basis. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. On average, research analysts predict that BioMarin Pharmaceutical will post 4.1 EPS for the current fiscal year.

Hedge Funds Weigh In On BioMarin Pharmaceutical

A number of hedge funds have recently made changes to their positions in BMRN. CIBC Private Wealth Group LLC lifted its stake in BioMarin Pharmaceutical by 38.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock worth $39,000 after purchasing an additional 179 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its stake in BioMarin Pharmaceutical by 0.4% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 42,982 shares of the biotechnology company’s stock worth $2,554,000 after purchasing an additional 183 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in BioMarin Pharmaceutical by 70.3% during 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. Caerus Investment Advisors LLC grew its stake in shares of BioMarin Pharmaceutical by 2.8% during the fourth quarter. Caerus Investment Advisors LLC now owns 10,236 shares of the biotechnology company’s stock valued at $608,000 after purchasing an additional 278 shares during the last quarter. Finally, Chicago Partners Investment Group LLC increased its stake in shares of BioMarin Pharmaceutical by 2.4% in the 1st quarter. Chicago Partners Investment Group LLC now owns 12,183 shares of the biotechnology company’s stock valued at $660,000 after buying an additional 290 shares during the period. Institutional investors and hedge funds own 98.71% of the company’s stock.

About BioMarin Pharmaceutical

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.