BioMarin Pharmaceutical (NASDAQ:BMRN – Free Report) had its price objective boosted by HC Wainwright from $59.00 to $60.00 in a research note released on Monday,Benzinga reports. HC Wainwright currently has a neutral rating on the biotechnology company’s stock.
A number of other brokerages also recently issued reports on BMRN. Wall Street Zen upgraded BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Bank of America decreased their target price on shares of BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. Citigroup boosted their price objective on shares of BioMarin Pharmaceutical from $75.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Sanford C. Bernstein lowered their target price on shares of BioMarin Pharmaceutical from $94.00 to $82.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. Finally, Oppenheimer increased 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. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.17.
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BioMarin Pharmaceutical Price Performance
BioMarin Pharmaceutical (NASDAQ:BMRN – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The biotechnology company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.25. The firm had revenue of $989.71 million for 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 company’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.44 earnings per share. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. As a group, equities analysts expect that BioMarin Pharmaceutical will post 4.11 EPS for the current year.
Institutional Investors Weigh In On BioMarin Pharmaceutical
A number of hedge funds have recently modified their holdings of BMRN. Primecap Management Co. CA bought a new stake in BioMarin Pharmaceutical during the second quarter valued at about $811,962,000. Viking Global Investors LP grew its stake in BioMarin Pharmaceutical by 13.8% during the second quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company’s stock valued at $675,505,000 after acquiring an additional 1,488,552 shares in the last quarter. California State Teachers Retirement System grew its position in shares of BioMarin Pharmaceutical by 5,328.0% during the second quarter. California State Teachers Retirement System now owns 11,662,523 shares of the biotechnology company’s stock valued at $667,330,000 after purchasing an additional 11,447,664 shares in the last quarter. Norges Bank purchased a new stake in shares of BioMarin Pharmaceutical in the fourth quarter worth about $447,572,000. Finally, AQR Capital Management LLC boosted its position in shares of BioMarin Pharmaceutical by 12.7% during the 4th quarter. AQR Capital Management LLC now owns 6,686,916 shares of the biotechnology company’s stock valued at $395,197,000 after acquiring an additional 754,807 shares during the last quarter. Institutional investors own 98.71% of the company’s stock.
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.
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