BioMarin Pharmaceutical (NASDAQ:BMRN) Sets New 52-Week High After Analyst Upgrade

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) reached a new 52-week high during trading on Monday after Canaccord Genuity Group raised their price target on the stock from $111.00 to $114.00. Canaccord Genuity Group currently has a buy rating on the stock. BioMarin Pharmaceutical traded as high as $66.94 and last traded at $66.8230, with a volume of 1100389 shares. The stock had previously closed at $63.81.

A number of other brokerages have also issued reports on BMRN. Sanford C. Bernstein dropped their price objective on shares of BioMarin Pharmaceutical from $94.00 to $82.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. Morgan Stanley boosted their target price on shares of BioMarin Pharmaceutical from $119.00 to $124.00 and gave the company an “overweight” rating in a report on Friday. Royal Bank Of Canada dropped their price target on shares of BioMarin Pharmaceutical from $66.00 to $62.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 7th. Bank of America cut their price target on shares of BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. Finally, The Goldman Sachs Group initiated coverage on shares of BioMarin Pharmaceutical in a research report on Monday, May 11th. They set a “neutral” rating and a $69.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

Institutional Investors Weigh In On BioMarin Pharmaceutical

A number of institutional investors have recently made changes to their positions in BMRN. Activest Wealth Management acquired a new stake in BioMarin Pharmaceutical in the 4th quarter valued at approximately $26,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of BioMarin Pharmaceutical during the second quarter worth $39,000. CIBC Private Wealth Group LLC grew its stake in shares of BioMarin Pharmaceutical by 38.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock valued at $39,000 after buying an additional 179 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter valued at $40,000. Finally, Parallel Advisors LLC raised its holdings in shares of BioMarin Pharmaceutical by 62.2% in the 3rd quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock valued at $42,000 after buying an additional 295 shares during the period. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Trading Up 4.8%

The company has a 50 day moving average of $58.19 and a 200-day moving average of $57.08. The stock has a market cap of $12.94 billion, a price-to-earnings ratio of 181.13, a price-to-earnings-growth ratio of 0.49 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.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Thursday, August 6th. The biotechnology company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.25. The company had revenue of $989.71 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.44 earnings per share. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. On average, research analysts anticipate that BioMarin Pharmaceutical Inc. will post 4.22 earnings per share for the current year.

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.