BioMarin Pharmaceutical, the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Whitney Ijem from Canaccord Genuity upgraded the rating on the stock to a Buy and gave it a $98.00 price target.
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Whitney Ijem has given his Buy rating due to a combination of factors centered on valuation, strategic deals, and future growth visibility. He notes that BioMarin’s intrinsic value, based on his discounted cash flow analysis, has been significantly above the stock’s trading range, and he believes the acquisition of Amicus Therapeutics (FOLD) is a catalyst that can help close this gap as the transaction is completed and integrated. As the year progresses, he expects that both commercial execution and pipeline progress will improve investor sentiment, particularly as management follows through on its stated intention to continue business development activity aimed at strengthening the R&D pipeline.
Ijem also highlights that the recent transactions, including Inozyme and the Amicus deal, demonstrate a coherent and financially attractive business development strategy that should enhance long-term earnings power and diversify growth. While he acknowledges ongoing intellectual property risk around Voxzogo, his revenue forecasts already incorporate conservative market share and competitive assumptions, leaving room for upside if BioMarin successfully defends its IP or advances BMN 333 as a next-generation CNP therapy. In addition, he views the addition of Galafold (Fabry) and Pombiliti/Opfolda (Pompe) as important new commercial assets that broaden the company’s growth profile, with potential to become billion‑dollar franchises over time. Taken together, these elements support his conviction that the stock merits a Buy rating with meaningful upside to his 12‑month price target.
According to TipRanks, Ijem is a 5-star analyst with an average return of 30.1% and a 55.08% success rate. Ijem covers the Healthcare sector, focusing on stocks such as Palvella Therapeutics, Wave Life Sciences, and Fractyl Health, Inc..
In another report released on January 13, Wedbush also maintained a Buy rating on the stock with a $94.00 price target.