Analysts’ Recent Ratings Changes for BioMarin Pharmaceutical (BMRN)

Several brokerages have updated their recommendations and price targets on shares of BioMarin Pharmaceutical (NASDAQ: BMRN) in the last few weeks:

• 11/4/2024 – BioMarin Pharmaceutical was upgraded by analysts at Wedbush to a “strong-buy” rating.
• 10/30/2024 – BioMarin Pharmaceutical had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $80.00 price target on the stock.
• 10/30/2024 – BioMarin Pharmaceutical had its price target lowered by analysts at Cantor Fitzgerald from $110.00 to $90.00. They now have an “overweight” rating on the stock.
• 10/30/2024 – BioMarin Pharmaceutical had its price target lowered by analysts at JPMorgan Chase & Co. from $110.00 to $109.00. They now have an “overweight” rating on the stock.
• 10/30/2024 – BioMarin Pharmaceutical had its price target lowered by analysts at Evercore ISI from $115.00 to $105.00. They now have an “outperform” rating on the stock.
• 10/30/2024 – BioMarin Pharmaceutical had its price target lowered by analysts at Citigroup Inc. from $93.00 to $81.00. They now have a “neutral” rating on the stock.
• 10/30/2024 – BioMarin Pharmaceutical had its price target lowered by analysts at Robert W. Baird from $72.00 to $65.00. They now have a “neutral” rating on the stock.
• 10/30/2024 – BioMarin Pharmaceutical was downgraded by analysts at William Blair from an “outperform” rating to a “market perform” rating.
• 10/30/2024 – BioMarin Pharmaceutical had its price target lowered by analysts at Canaccord Genuity Group Inc. from $93.00 to $84.00. They now have a “hold” rating on the stock.
• 10/30/2024 – BioMarin Pharmaceutical had its price target raised by analysts at UBS Group AG from $104.00 to $106.00. They now have a “buy” rating on the stock.
• 10/10/2024 – BioMarin Pharmaceutical had its “outperform” rating reaffirmed by analysts at Raymond James. They now have a $79.00 price target on the stock.
• 10/4/2024 – BioMarin Pharmaceutical had its price target lowered by analysts at Royal Bank of Canada from $85.00 to $80.00. They now have a “sector perform” rating on the stock.
• 10/4/2024 – BioMarin Pharmaceutical had its price target lowered by analysts at Barclays PLC from $110.00 to $86.00. They now have an “overweight” rating on the stock.
• 9/17/2024 – BioMarin Pharmaceutical had its price target lowered by analysts at Scotiabank from $95.00 to $78.00. They now have a “sector perform” rating on the stock.
• 9/17/2024 – BioMarin Pharmaceutical had its price target lowered by analysts at Royal Bank of Canada from $100.00 to $85.00. They now have a “sector perform” rating on the stock.
• 9/17/2024 – BioMarin Pharmaceutical had its price target lowered by analysts at Wells Fargo & Company from $115.00 to $90.00. They now have an “overweight” rating on the stock.
• 9/17/2024 – BioMarin Pharmaceutical had its price target lowered by analysts at Sanford C. Bernstein from $116.00 to $90.00. They now have an “outperform” rating on the stock.
• 9/17/2024 – BioMarin Pharmaceutical had its price target lowered by analysts at Truist Financial Co. from $118.00 to $90.00. They now have a “buy” rating on the stock.
• 9/17/2024 – BioMarin Pharmaceutical had its price target lowered by analysts at Stifel Nicolaus from $115.00 to $87.00. They now have a “buy” rating on the stock.
• 9/17/2024 – BioMarin Pharmaceutical had its price target lowered by analysts at Bank of America Co. from $130.00 to $115.00. They now have a “buy” rating on the stock.

BioMarin Pharmaceutical Price Performance

NASDAQ BMRN traded up $0.54 during trading hours on Wednesday, reaching $66.67. The company’s stock had a trading volume of 884,963 shares, compared to its average volume of 1,830,553. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 2.62. BioMarin Pharmaceutical Inc. has a 1-year low of $65.35 and a 1-year high of $99.56. The company’s 50-day moving average is $71.70 and its two-hundred day moving average is $79.47. The firm has a market capitalization of $12.71 billion, a price-to-earnings ratio of 39.92, a P/E/G ratio of 0.65 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.23). BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The company had revenue of $746.00 million for the quarter, compared to analysts’ expectations of $703.37 million. During the same period in the previous year, the business earned $0.26 earnings per share. The business’s revenue for the quarter was up 28.4% on a year-over-year basis. On average, equities analysts predict that BioMarin Pharmaceutical Inc. will post 2.47 EPS for the current year.

Institutional Investors Weigh In On BioMarin Pharmaceutical

A number of hedge funds have recently modified their holdings of the business. Envestnet Portfolio Solutions Inc. lifted its stake in BioMarin Pharmaceutical by 1.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 10,668 shares of the biotechnology company’s stock worth $932,000 after purchasing an additional 130 shares in the last quarter. Empowered Funds LLC purchased a new position in BioMarin Pharmaceutical during the first quarter worth approximately $208,000. Oppenheimer & Co. Inc. boosted its stake in BioMarin Pharmaceutical by 70.5% during the first quarter. Oppenheimer & Co. Inc. now owns 4,714 shares of the biotechnology company’s stock worth $412,000 after buying an additional 1,949 shares during the last quarter. Avantax Advisory Services Inc. acquired a new position in BioMarin Pharmaceutical during the first quarter worth $298,000. Finally, ProShare Advisors LLC grew its holdings in BioMarin Pharmaceutical by 9.8% in the 1st quarter. ProShare Advisors LLC now owns 13,221 shares of the biotechnology company’s stock valued at $1,155,000 after buying an additional 1,185 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

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.