11 Best Debt-Free Stocks to Invest in Right Now

9. BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

EV to Market Cap: 0.94

Number of Hedge Fund Holders: 59

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) is one of the 11 best debt-free stocks to invest in right now. On July 2, Morgan Stanley analyst Sean Laaman initiated coverage on BioMarin with a Buy rating and a $97 price target, citing a favorable outlook despite ongoing competitive concerns.

Laaman’s optimism centers on Voxzogo, BioMarin’s therapy for achondroplasia, a rare disorder affecting bone growth. While Ascendis Pharma’s TransCon CNP could pose competition due to its longer half-life, Laaman notes that it still faces key challenges, including ongoing patent litigation. Importantly, he believes investors may be underestimating Voxzogo’s broader potential, particularly in other indications such as hypochondroplasia.

The analyst also pointed to the CANOPY clinical program, which is evaluating Voxzogo in conditions linked to SHOX gene mutations, as a promising path for further label expansion. In Laaman’s view, this pipeline optionality is not fully reflected in BioMarin’s current valuation.

Trading near a 10-year low, the stock appears to already account for most of the perceived risks. Given the strength of Voxzogo’s current performance, expansion potential, and an underappreciated pipeline, Laaman sees a compelling upside case for BioMarin shares from current levels.

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) is a biotechnology company that develops and commercializes therapies for rare diseases and medical conditions worldwide.