In a report released yesterday, Kostas Biliouris from BMO Capital maintained a Buy rating on BioMarin Pharmaceutical (BMRN – Research Report), with a price target of $115.00.
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Kostas Biliouris has given his Buy rating due to a combination of factors, including BioMarin Pharmaceutical’s strong financial performance and promising future prospects. The company reported solid growth in the fourth quarter of 2024, with product revenues reaching $735 million, surpassing market expectations. Furthermore, BioMarin’s total revenue for 2024 was $2.85 billion, exceeding both its own guidance and consensus estimates, which demonstrates effective commercial and operational execution by management.
Looking ahead, BioMarin’s revenue guidance for 2025 is set between $3.1 billion and $3.2 billion, which is slightly above consensus expectations. This implies a healthy year-over-year growth rate, further supported by a robust operating margin. The company’s confidence in sustained revenue and earnings per share growth is bolstered by the strong performance of its base enzyme business, significant growth of Voxzogo, and profitable sales of Roctavian. Additionally, strategic business developments and advancements in their product pipeline, such as the BMN333 trial, are anticipated to further drive long-term growth, making BioMarin an attractive investment opportunity.
In another report released today, Barclays also maintained a Buy rating on the stock with a $86.00 price target.
BMRN’s price has also changed moderately for the past six months – from $92.760 to $65.610, which is a -29.27% drop .