BioMarin Pharmaceutical (NASDAQ:BMRN) Stock Rated “Buy” in New Coverage at UBS Group

UBS Group started coverage on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a report published on Thursday, Marketbeat reports. The brokerage issued a buy rating and a $88.00 target price on the biotechnology company’s stock.

A number of other brokerages also recently issued reports on BMRN. Canaccord Genuity Group raised their price target on BioMarin Pharmaceutical from $111.00 to $114.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Barclays lifted their price objective on shares of BioMarin Pharmaceutical from $111.00 to $114.00 and gave the stock an “overweight” rating in a research note on Wednesday. Oppenheimer boosted their price objective on shares of BioMarin Pharmaceutical from $95.00 to $97.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. Citigroup increased their target price 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. Finally, Jefferies Financial Group increased their target price on shares of BioMarin Pharmaceutical from $104.00 to $105.00 and gave the company a “buy” rating in a research note on Monday, August 31st. Three investment 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $88.87.

BioMarin Pharmaceutical Trading Down 2.4%

Shares of NASDAQ BMRN opened at $54.68 on Thursday. The business’s 50 day moving average is $63.01 and its two-hundred day moving average is $58.66. 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. The stock has a market capitalization of $10.58 billion, a P/E ratio of 147.78, a PEG ratio of 0.38 and a beta of 0.22.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data 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 business had revenue of $989.71 million during 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 company’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same period last year, the company earned $1.44 EPS. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. As a group, research analysts expect that BioMarin Pharmaceutical will post 4.10 EPS for the current year.

Institutional Investors Weigh In On BioMarin Pharmaceutical

A number of institutional investors and hedge funds have recently modified their holdings of BMRN. Mather Group LLC. grew its position in BioMarin Pharmaceutical by 71.0% in the 3rd quarter. Mather Group LLC. now owns 2,337 shares of the biotechnology company’s stock valued at $140,000 after acquiring an additional 970 shares during the last quarter. Sanders Morris Harris LLC bought a new stake in shares of BioMarin Pharmaceutical during the third quarter worth $240,000. Wedmont Private Capital bought a new stake in shares of BioMarin Pharmaceutical during the third quarter worth $222,000. GAMMA Investing LLC lifted its position in shares of BioMarin Pharmaceutical by 50.4% during the third quarter. GAMMA Investing LLC now owns 3,642 shares of the biotechnology company’s stock worth $219,000 after purchasing an additional 1,220 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of BioMarin Pharmaceutical by 7.9% during the third quarter. Farther Finance Advisors LLC now owns 8,489 shares of the biotechnology company’s stock valued at $509,000 after purchasing an additional 618 shares during the period. 98.71% of the stock is owned by institutional investors.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc is a biotechnology company that develops and commercializes therapies for rare and serious genetic diseases. The company focuses on conditions with limited treatment options, using approaches that include enzyme replacement therapy, small-molecule medicines, biologics and gene therapy.

Its products include Vimizim for mucopolysaccharidosis type IV A, Naglazyme for mucopolysaccharidosis type VI, Brineura for CLN2 disease, Palynziq and Kuvan for phenylketonuria, and Voxzogo for children with achondroplasia and open growth plates.