BioMarin Pharmaceutical (NASDAQ:BMRN) Stock Gets Price Target Reduction from Morgan Stanley

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price target lowered by Morgan Stanley from $124.00 to $122.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the biotechnology company’s stock.

BMRN has been the subject of several other research reports. HC Wainwright restated a “neutral” rating and issued a $60.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, September 10th. William Blair raised BioMarin Pharmaceutical to a “hold” rating in a research report on Wednesday, September 23rd. Oppenheimer increased their target price on BioMarin Pharmaceutical from $95.00 to $97.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Barclays increased their target price on BioMarin Pharmaceutical from $111.00 to $114.00 and gave the company an “overweight” rating in a research note on Wednesday, October 14th. Finally, Wall Street Zen raised BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $88.60.

BioMarin Pharmaceutical Stock Down 1.2%

Shares of BioMarin Pharmaceutical stock opened at $55.95 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.32 and a current ratio of 2.39. The stock has a market capitalization of $10.83 billion, a PE ratio of 33.71, a price-to-earnings-growth ratio of 0.46 and a beta of 0.22. BioMarin Pharmaceutical has a 52-week low of $49.26 and a 52-week high of $70.98. The company has a 50-day simple moving average of $61.70 and a two-hundred day simple moving average of $58.65.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results on Thursday, August 6th. The biotechnology company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.25. BioMarin Pharmaceutical had a net margin of 2.14% and a return on equity of 5.32%. The firm had revenue of $989.71 million for the quarter, compared to the consensus estimate of $932.03 million. During the same quarter in the prior year, the firm posted $1.44 earnings per share. The business’s revenue was up 20.0% on a year-over-year basis. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. On average, analysts anticipate that BioMarin Pharmaceutical will post 3.46 EPS for the current fiscal year.

Institutional Trading of BioMarin Pharmaceutical

Institutional investors have recently made changes to their positions in the stock. Primecap Management Co. CA purchased a new stake in BioMarin Pharmaceutical in the second quarter worth approximately $811,962,000. Caisse de depot et placement du Quebec bought a new stake in BioMarin Pharmaceutical in the 2nd quarter worth approximately $70,749,000. Bank of New York Mellon Corp bought a new stake in BioMarin Pharmaceutical in the 2nd quarter worth approximately $66,107,000. Edmond DE Rothschild Holding S.A. bought a new stake in BioMarin Pharmaceutical in the 2nd quarter worth approximately $39,312,000. Finally, Palo Alto Investors LP purchased a new stake in BioMarin Pharmaceutical during the 2nd quarter valued at $39,068,500. Hedge funds and other institutional investors own 98.71% of the company’s stock.

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.