10 Cheap Stocks with Huge Upside Potential

5. BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Potential Upside: 71.68%

Forward P/E: 10.85

Number of Hedge Fund Holders: 54

On January 20, Canaccord Genuity raised BioMarin Pharmaceutical Inc.’s (NASDAQ:BMRN) price target from $84 to $98, implying 74.4% upside from the current share price. On January 13, Wedbush analyst Yun Zhong reaffirmed his Buy rating on the stock while maintaining a price target of $94. Yun Zhong’s Buy rating is based on several factors that reinforce the company’s ability to deliver sustained long-term growth. BioMarin’s 2025 revenue guidance is consistent with broader market expectations and is supported by the management’s goal of maintaining double-digit revenue growth into the 2030s.

The company continues to strengthen its leadership position in achondroplasia through Voxzogo, benefitting from a broad label, strong patient adherence, early treatment initiative, and global reach. At the same time, the firm is pursuing additional label and indication expansions in hypochondroplasia and other skeletal disorders. Regulatory and legal efforts, including an sNDA for full approval and strategies related to orphan exclusivity and competition, are intended to protect and extend this competitive position.

Moreover, recent pipeline developments offer incremental upside, with BMN‑351 showing dose-responsive dystrophin expression in Duchenne muscular dystrophy and BMN‑333 advancing into Phase 2/3 development. In addition to Wedbush, Evercore ISI also reaffirmed its Buy rating on the stock and set a price target of $110 on January 13.

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) operates as a biotechnology company. The company is engaged in the commercialization and development of therapies for life-threatening rare diseases and medical conditions. Its products consist of VIMIZIM, VOXZOGO, NAGLAZYME, and PALYNZIQ.