HC Wainwright Cuts BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target to $59.00

BioMarin Pharmaceutical (NASDAQ:BMRN) had its target price trimmed by HC Wainwright from $60.00 to $59.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the biotechnology company’s stock.

BMRN has been the topic of a number of other research reports. Weiss Ratings downgraded shares of BioMarin Pharmaceutical from a “hold (c-)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. Barclays increased their target price on shares of BioMarin Pharmaceutical from $105.00 to $111.00 and gave the company an “overweight” rating in a report on Monday. Citigroup lifted their price target on shares of BioMarin Pharmaceutical from $75.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. UBS Group reissued a “neutral” rating on shares of BioMarin Pharmaceutical in a research note on Tuesday, July 14th. Finally, Piper Sandler upped their price target on BioMarin Pharmaceutical from $82.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.83.

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock opened at $67.68 on Tuesday. BioMarin Pharmaceutical has a one year low of $49.26 and a one year high of $70.98. 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 business has a fifty day moving average of $60.45 and a two-hundred day moving average of $57.82. The company has a market cap of $13.10 billion, a P/E ratio of 182.92, a price-to-earnings-growth ratio of 0.50 and a beta of 0.24.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly 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 business had revenue of $989.71 million for the quarter, compared to analysts’ expectations of $932.03 million. BioMarin Pharmaceutical had a net margin of 2.14% and a return on equity of 5.32%. The business’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.44 EPS. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. As a group, analysts predict that BioMarin Pharmaceutical will post 4.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Several hedge funds have recently added to or reduced their stakes in BMRN. Susquehanna Fundamental Investments LLC acquired a new position in BioMarin Pharmaceutical during the second quarter worth about $5,258,000. Thornburg Investment Management Inc. grew its position in shares of BioMarin Pharmaceutical by 305.9% in the second quarter. Thornburg Investment Management Inc. now owns 43,061 shares of the biotechnology company’s stock valued at $2,464,000 after purchasing an additional 32,453 shares during the last quarter. Greenwood Capital Associates LLC acquired a new stake in shares of BioMarin Pharmaceutical in the second quarter valued at approximately $320,000. Van ECK Associates Corp increased its stake in shares of BioMarin Pharmaceutical by 68.8% during the 2nd quarter. Van ECK Associates Corp now owns 307,103 shares of the biotechnology company’s stock worth $17,572,000 after purchasing an additional 125,221 shares in the last quarter. Finally, Hsbc Holdings PLC increased its stake in shares of BioMarin Pharmaceutical by 107.5% during the 2nd quarter. Hsbc Holdings PLC now owns 307,543 shares of the biotechnology company’s stock worth $17,640,000 after purchasing an additional 159,361 shares in the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

Key BioMarin Pharmaceutical News

Here are the key news stories impacting BioMarin Pharmaceutical this week:

• Positive Sentiment: BMO upgrades BioMarin to “strong buy.” The upgrade follows BMO’s recent initiation of coverage with an “outperform” rating and a $98 price target, implying substantial upside from the current trading level. BMO upgrades BioMarin to strong buy
• Positive Sentiment: Alesta acquisition expands BioMarin’s rare-disease pipeline. BioMarin agreed to acquire Alesta Therapeutics for $275 million upfront, with up to $215 million in milestone payments. The deal adds ALE1, an oral treatment candidate for hypophosphatasia, a rare genetic bone disorder, and could strengthen the company’s long-term growth prospects if development and regulatory milestones are achieved. BioMarin Alesta acquisition
• Positive Sentiment: Recent operating results were stronger than expected. BioMarin’s latest reported quarter exceeded consensus earnings and revenue estimates, with revenue increasing 20% year over year. Articles from Barclays and Piper Sandler also point to potential share-price appreciation. BioMarin Q2 results benchmarking
• Neutral Sentiment: The Alesta opportunity remains early stage. ALE1 is still in clinical development, meaning the potential commercial benefit is several years away and depends on successful trials, approvals and milestone execution. The transaction therefore adds strategic potential but also development risk. BioMarin to acquire Alesta
• Negative Sentiment: Analyst opinion is not unanimous. HC Wainwright issued a pessimistic forecast, while another analyst reduced the price target to $59 despite viewing the Alesta deal favorably. This valuation disagreement may limit near-term upside and contribute to selling pressure. BioMarin analyst price target cut

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.