BioMarin Pharmaceutical’s (BMRN) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has a $86.00 target price on the biotechnology company’s stock.

A number of other research analysts have also recently issued reports on the company. Morgan Stanley boosted their target price on BioMarin Pharmaceutical from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Barclays increased their price target on BioMarin Pharmaceutical from $111.00 to $114.00 and gave the stock an “overweight” rating in a report on Wednesday, October 14th. Jefferies Financial Group raised their price target on BioMarin Pharmaceutical from $104.00 to $105.00 and gave the stock a “buy” rating in a research report on Monday, August 31st. Piper Sandler lifted their price objective on BioMarin Pharmaceutical from $88.00 to $90.00 and gave the company an “overweight” rating in a report on Tuesday, September 1st. Finally, Royal Bank Of Canada decreased their price objective on BioMarin Pharmaceutical from $66.00 to $62.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 7th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and an average target price of $88.60.

BioMarin Pharmaceutical Trading Up 2.6%

Shares of NASDAQ BMRN opened at $56.63 on Tuesday. BioMarin Pharmaceutical has a twelve month low of $49.26 and a twelve month high of $70.98. The stock has a market cap of $10.96 billion, a price-to-earnings ratio of 32.86, a P/E/G ratio of 0.41 and a beta of 0.22. The company has a quick ratio of 1.32, a current ratio of 2.39 and a debt-to-equity ratio of 0.56. The company’s fifty day moving average is $61.93 and its 200-day moving average is $58.67.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Thursday, August 6th. The biotechnology company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.25. The business had revenue of $989.71 million during 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 firm’s quarterly revenue was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.44 EPS. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. Equities research analysts predict that BioMarin Pharmaceutical will post 3.78 EPS for the current year.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Institutional investors have recently added to or reduced their stakes in the stock. Amundi raised its stake in shares of BioMarin Pharmaceutical by 37.8% in the 2nd quarter. Amundi now owns 259,782 shares of the biotechnology company’s stock valued at $14,865,000 after purchasing an additional 71,246 shares during the period. Rice Hall James & Associates LLC bought a new stake in shares of BioMarin Pharmaceutical in the second quarter valued at about $14,203,000. Public Employees Retirement System of Ohio bought a new stake in shares of BioMarin Pharmaceutical in the second quarter valued at about $3,461,000. Bank of New York Mellon Corp acquired a new position in shares of BioMarin Pharmaceutical during the second quarter worth about $66,107,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new position in shares of BioMarin Pharmaceutical during the second quarter worth about $39,312,000. 98.71% of the stock is owned by institutional investors.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc is a biotechnology company focused on developing and commercializing therapies for serious and life-threatening rare diseases. The company’s research and development efforts center on genetic and metabolic disorders, where patient populations are often small and treatment options are limited.

BioMarin’s marketed products include Voxzogo (vosoritide) for children with achondroplasia and open growth plates, Palynziq (pegvaliase) and Kuvan (sapropterin dihydrochloride) for phenylketonuria, Brineura (cerliponase alfa) for late-infantile neuronal ceroid lipofuscinosis type 2, Vimizim (elosulfase alfa) for Morquio A syndrome, and Naglazyme (galsulfase) for mucopolysaccharidosis VI.