BioMarin Pharmaceutical (NASDAQ:BMRN) Shares Gap Up – Still a Buy?

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) gapped up prior to trading on Friday . The stock had previously closed at $51.95, but opened at $54.80. BioMarin Pharmaceutical shares last traded at $60.7930, with a volume of 2,560,749 shares traded.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BMRN. JPMorgan Chase & Co. raised their price target on BioMarin Pharmaceutical from $116.00 to $119.00 and gave the company an “overweight” rating in a report on Thursday, October 9th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $66.00 target price on shares of BioMarin Pharmaceutical in a research note on Tuesday, October 28th. Barclays dropped their price target on shares of BioMarin Pharmaceutical from $86.00 to $80.00 and set an “overweight” rating for the company in a research note on Tuesday, October 28th. Tudor Pickering set a $88.00 price objective on shares of BioMarin Pharmaceutical in a report on Monday, November 3rd. Finally, Morgan Stanley lowered their target price on shares of BioMarin Pharmaceutical from $104.00 to $98.00 and set an “overweight” rating for the company in a report on Tuesday, October 28th. Sixteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $88.61.

BioMarin Pharmaceutical Trading Up 19.7%

The company has a quick ratio of 3.10, a current ratio of 4.83 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $11.94 billion, a P/E ratio of 23.36, a price-to-earnings-growth ratio of 0.86 and a beta of 0.30. The business has a fifty day moving average price of $53.50 and a 200 day moving average price of $55.59.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Monday, October 27th. The biotechnology company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.20). BioMarin Pharmaceutical had a return on equity of 9.53% and a net margin of 16.82%.The business had revenue of $776.13 million during the quarter, compared to the consensus estimate of $782.42 million. During the same period in the prior year, the firm earned $0.91 EPS. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. BioMarin Pharmaceutical has set its FY 2025 guidance at 3.500-3.600 EPS. On average, analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Several institutional investors and hedge funds have recently modified their holdings of BMRN. Jump Financial LLC grew its stake in BioMarin Pharmaceutical by 530.3% in the 2nd quarter. Jump Financial LLC now owns 291,217 shares of the biotechnology company’s stock worth $16,008,000 after buying an additional 245,017 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of BioMarin Pharmaceutical by 212.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,592,963 shares of the biotechnology company’s stock worth $112,607,000 after acquiring an additional 1,083,512 shares during the last quarter. AQR Capital Management LLC grew its position in BioMarin Pharmaceutical by 90.7% in the second quarter. AQR Capital Management LLC now owns 5,580,573 shares of the biotechnology company’s stock worth $306,429,000 after acquiring an additional 2,654,768 shares in the last quarter. Covea Finance grew its position in BioMarin Pharmaceutical by 27.3% in the second quarter. Covea Finance now owns 135,300 shares of the biotechnology company’s stock worth $7,437,000 after acquiring an additional 29,000 shares in the last quarter. Finally, 1832 Asset Management L.P. bought a new position in BioMarin Pharmaceutical in the second quarter valued at $1,431,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.