BioMarin Pharmaceutical (NASDAQ:BMRN) Given New $111.00 Price Target at Barclays

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price target boosted by investment analysts at Barclays from $105.00 to $111.00 in a report released on Monday,Benzinga reports. The firm currently has an “overweight” rating on the biotechnology company’s stock. Barclays‘s price objective suggests a potential upside of 65.76% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Morgan Stanley upped their price objective on BioMarin Pharmaceutical from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Wall Street Zen upgraded BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Bank of America dropped their price objective on shares of BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. Citigroup raised their price objective on shares of BioMarin Pharmaceutical from $75.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Finally, HC Wainwright upped their target price on BioMarin Pharmaceutical from $50.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.27.

BioMarin Pharmaceutical Stock Performance

NASDAQ:BMRN opened at $66.97 on Monday. The company has a market cap of $12.96 billion, a price-to-earnings ratio of 180.68, a PEG ratio of 0.47 and a beta of 0.24. The stock’s 50 day simple moving average is $59.56 and its two-hundred day simple moving average is $57.51. 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 1 year low of $49.26 and a 1 year high of $70.98.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Thursday, August 6th. The biotechnology company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.25. The firm had revenue of $989.71 million for the quarter, compared to the consensus estimate of $932.03 million. BioMarin Pharmaceutical had a net margin of 2.14% and a return on equity of 5.32%. The business’s quarterly revenue was up 20.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.44 EPS. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. As a group, equities analysts anticipate that BioMarin Pharmaceutical will post 4.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BioMarin Pharmaceutical

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Boone Capital Management LLC acquired a new position in shares of BioMarin Pharmaceutical during the second quarter worth $33,372,000. Freestone Grove Partners LP purchased a new position in BioMarin Pharmaceutical during the 2nd quarter worth approximately $20,839,000. Caisse de depot et placement du Quebec acquired a new stake in BioMarin Pharmaceutical during the 2nd quarter worth about $70,749,000. Trails Edge Capital Partners LP acquired a new stake in BioMarin Pharmaceutical during the second quarter worth about $29,296,640,000. Finally, Elmind Capital LP acquired a new position in BioMarin Pharmaceutical in the second quarter valued at approximately $2,689,340,000. 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.