BioMarin Pharmaceutical

BMRN · NASDAQ

$56.44+$1.77 (+3.24%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $54.67

BMRN analyst rating

BuyConsensus of 24 analysts over the last 12 months. 79% rate it a buy.

Strong buy0
Buy19
Hold5
Underperform0
Sell0

12-month price target · 29 analysts

Average $93.66 (+66.0% upside)

Low: $60.60
Now: $56.44
High: $130.20

Upgrades and downgrades

The latest rating actions, newest first

BMRN analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
JP Morgan	Oct 20, 2026	Maintains	Overweight	$86.00 → $87.00	57%
Cantor Fitzgerald	Oct 20, 2026	Maintains	Overweight	$86.00	25%
UBS	Oct 15, 2026	Initiates	Buy	$114.00 → $88.00	69%
Barclays	Oct 14, 2026	Maintains	Overweight	$111.00 → $114.00	45%
HC Wainwright & Co.	Sep 10, 2026	Maintains	Neutral	$60.00	32%
Piper Sandler	Sep 1, 2026	Maintains	Overweight	$88.00 → $90.00	55%
Jefferies	Aug 31, 2026	Maintains	Buy	$104.00 → $105.00	45%
HC Wainwright & Co.	Aug 31, 2026	Maintains	Neutral	$59.00 → $60.00	32%
BMO Capital	Aug 19, 2026	Initiates	Outperform	$98.00	55%
HC Wainwright & Co.	Aug 18, 2026	Maintains	Neutral	$60.00 → $59.00	32%

The case for and against

Updated Oct 14, 2026

Bull case

BioMarin Pharmaceutical is viewed positively because the Yuviwel settlement converts a direct achondroplasia competitor into a royalty stream, with 20% of U.S. net sales and 18% in select ex-U.S. territories through May 2030, while also removing the Voxzogo litigation overhang. The deal is economically meaningful since Voxzogo generated $253M in 2Q26 and Yuviwel royalties are modeled to add $10M, $40M, $66M, $90M, and $47M in FY26E-FY30E, lifting non-GAAP EPS estimates to $5.01, $6.78, $7.50, $8.51, and $9.24. It also buys time for BioMarin’s broader growth strategy, including Amicus integration, Alesta and ALE1 interest, and BMN 333 development, while preserving leverage in a market where weekly dosing may appeal to very young children versus 365 annual injections.

Bear case

BioMarin Pharmaceutical is facing a pressured fundamental backdrop because its valuation already embeds an estimated EV of about $14.0B, while the company is projected to carry roughly $3.5B of debt by end-3Q27 against only about $1.9B of cash and equivalents. The outlook is further clouded by competitive and execution risks, including faster-than-expected VOXZOGO share loss to YUVIWEL and other achondroplasia rivals, weaker uptake or regulatory execution in HCH, and BMN 333 potentially failing to differentiate sufficiently. With 207M fully diluted shares and an early-stage pipeline still needing to prove commercial and clinical value, the company’s growth story appears vulnerable to downside surprises.

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