Canaccord Lifts PT on BioMarin Pharmaceutical (BMRN) to $104 From $98 – Here’s Why

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) is one of the best cheap biotech stocks to buy now. Canaccord lifted the price target on BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) to $104 from $98 on February 26 and reiterated a Buy rating on the shares. It stated that while the company’s fiscal Q4 2025 earnings showed a slight top-line beat, they were otherwise uneventful, following BioMarin Pharmaceutical Inc.’s recent announcement of the acquisition of Amicus and updates at the January investor conference.

BioMarin Pharmaceutical Inc. (BMRN): Among Small-Cap Healthcare Stocks Hedge Funds is Buying

BioMarin Pharmaceutical Inc. also received a rating update from Guggenheim on February 25, with the firm cutting the price target on the stock to $86 from $106 while maintaining a Buy rating on the shares.

However, the same day, Bernstein lifted the price target on BioMarin Pharmaceutical Inc. to $94 from $90 and maintained an Outperform rating on the shares. The firm stated that revenues of $875 million beat by 5%, but EPS of 46c missed by 16%, which was primarily due to the consensus not modeling Roctavian write-down. It added that the total revenue guidance was missed by 6%, while EPS was missed by 3%, with product sales guidance looking soft on Voxzogo and solid on Enzymes.

BioMarin Pharmaceutical Inc. 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.

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This article is originally published at Insider Monkey.