BioMarin Pharmaceutical (NASDAQ:BMRN) Rating Lowered to “Market Perform” at Leerink Partners

BioMarin Pharmaceutical (NASDAQ:BMRN) was downgraded by research analysts at Leerink Partners from an “outperform” rating to a “market perform” rating in a report released on Wednesday, Marketbeat.com reports. They currently have a $60.00 target price on the biotechnology company’s stock, down from their prior target price of $82.00. Leerink Partners’ price target would indicate a potential upside of 11.48% from the stock’s current price.

BMRN has been the topic of a number of other reports. Wells Fargo & Company decreased their price target on BioMarin Pharmaceutical from $90.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, October 28th. Wedbush reaffirmed an “outperform” rating and issued a $94.00 price objective on shares of BioMarin Pharmaceutical in a research note on Tuesday, October 28th. Wolfe Research reissued an “outperform” rating on shares of BioMarin Pharmaceutical in a research note on Tuesday, October 28th. Guggenheim boosted their price target on BioMarin Pharmaceutical from $101.00 to $106.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Finally, Morgan Stanley dropped their price target on BioMarin Pharmaceutical from $104.00 to $98.00 and set an “overweight” rating for the company in a research note on Tuesday, October 28th. Sixteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $88.61.

BioMarin Pharmaceutical Trading Down 0.9%

Shares of NASDAQ:BMRN opened at $53.82 on Wednesday. The stock has a 50 day moving average of $53.87 and a 200 day moving average of $55.98. The company has a market cap of $10.34 billion, a PE ratio of 20.23, a price-to-earnings-growth ratio of 0.91 and a beta of 0.30. BioMarin Pharmaceutical has a 12-month low of $50.76 and a 12-month high of $73.51. The company has a current ratio of 4.83, a quick ratio of 3.10 and a debt-to-equity ratio of 0.10.

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

Institutional Investors Weigh In On BioMarin Pharmaceutical

Institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. increased its position in 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 valued at $112,607,000 after buying an additional 1,083,512 shares in the last quarter. Covea Finance boosted its holdings 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. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of BioMarin Pharmaceutical by 0.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,064,924 shares of the biotechnology company’s stock worth $75,279,000 after acquiring an additional 9,837 shares during the last quarter. Tealwood Asset Management Inc. increased its holdings in shares of BioMarin Pharmaceutical by 37.4% during the second quarter. Tealwood Asset Management Inc. now owns 21,563 shares of the biotechnology company’s stock valued at $1,185,000 after acquiring an additional 5,874 shares in the last quarter. Finally, QRG Capital Management Inc. purchased a new position in shares of BioMarin Pharmaceutical in the 2nd quarter valued at approximately $301,000. 98.71% of the stock is owned by institutional investors.

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.