BioMarin Pharmaceutical Inc. (BMRN) Outlook Lowered By Leerink

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) is among the cheap healthcare stocks to buy heading into 2026. As reported by TheFly, Leerink reduced the price target on BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) to $60 from $82 and downgraded it to Market Perform from Outperform on December 3.

According to the analyst, the actions taken by new leadership, including workforce cuts and discontinuing the Roctavian program, strengthen its long-term position. However, rising competitive pressure in achondroplasia and a significant gap in the company’s pipeline will make M&A necessary, the analyst noted, adding that this creates uncertainty about whether these measures are adequate to boost the stock from its current level.

Earlier on November 3, Bernstein also lowered the price target on BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) to $88 from $95, with a ‘Market Perform’ rating. The analyst noted the company’s quarterly performance, in which the company delivered revenue in line with expectations but missed its EPS target.

Overall, BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has the majority of analysts assigning it a ‘Buy’ or equivalent rating, with a target price going as high as $122 and as low as $55, as of December 7. The median price target of $91 suggests an upside potential of about 70%.

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) is a California-based biotechnology company that develops and markets therapies for serious rare diseases. The company’s core offerings include VIMIZIM, VOXZOGO, NAGLAZYME, and PALYNZIQ.

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Disclosure: None.