9 Most Profitable Biotech Stocks to Buy

Page 8 of 8

1. BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

TTM Net Income: $657.24 million

Number of Hedge Fund Holders: 58

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) is one of the most profitable biotech stocks to buy. Wells Fargo maintained a Buy rating on BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) on October 21 and set a price target of $90. Similarly,

Morgan Stanley analyst Sean Laaman also maintained a bullish stance on the stock on October 19, assigning it a Buy rating and a $104 price target.

Laaman stated that BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has considerable growth potential and a strong market position, factors that support the optimistic rating. He added that Voxzogo’s international expansion is a key performance driver for the company, as it has resulted in considerable revenue growth, with continued expansion into new countries expected.

The analyst further stated that BioMarin Pharmaceutical Inc.’s (NASDAQ:BMRN) has a competitive market position because of its strategic focus on the establishment of a solid patient base with low switch rates, particularly in younger age cohorts. In addition, the company’s strong pipeline of promising treatments represents catalysts for future growth, including BMN 333 and BMN 351.

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) develops and commercializes therapies for serious and life-threatening medical conditions and rare diseases. The company’s product pipeline includes Valoctocogene roxaparvovec, Vosoritide, and BMN 307.

While we acknowledge the potential of BMRN to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than BMRN and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money.

Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.

Page 8 of 8