Analyst Jason Gerberry from Bank of America Securities reiterated a Buy rating on BioMarin Pharmaceutical and decreased the price target to $85.00 from $97.00.
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Jason Gerberry has given his Buy rating due to a combination of factors that, in his view, position BioMarin attractively versus comparable mid-cap biopharma companies. He sees the planned Amicus acquisition as a strategic fit with BioMarin’s existing enzyme replacement therapy portfolio, reducing reliance on the Voxzogo franchise and its competitive risks while still leaving the company with a broad, durable revenue base and limited loss-of-exclusivity exposure.
Despite trimming his price objective to $85 to reflect more conservative long-term assumptions for Voxzogo, he still identifies notable upside from the current share price, supported by peer-based valuation work and a DCF that are now better aligned. He also highlights that the combined company should deliver solid revenue and EPS growth, a relatively fast path to lowering leverage, and a pipeline and commercial catalyst set in FY26 that could provide incremental support to the investment case if execution and margins track ahead of standalone targets.
According to TipRanks, Gerberry is a 5-star analyst with an average return of 17.8% and a 62.14% success rate. Gerberry covers the Healthcare sector, focusing on stocks such as Johnson & Johnson, Eli Lilly & Co, and Bristol-Myers Squibb.
In another report released on March 3, Barclays also assigned a Buy rating to the stock with a $105.00 price target.