BioMarin Pharmaceutical (BMRN) AI Stock Analysis

• Market Cap: $11.56B
• Dividend Yield: N/A
• Average Volume (3M): 3.34M
• Price to Earnings (P/E): 22.5
• Beta (1Y): 0.44
• Revenue Growth: 12.31%
• EPS Growth: 60.21%
• Country: US
• Employees: 3,040
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.16
• Shares Outstanding: 192,114,350
• 10 Day Avg. Volume: 4,269,268
• 30 Day Avg. Volume: 3,337,164
• PEG Ratio: 0.19
• Price to Book (P/B): 2.21
• Price to Sales (P/S): 4.38
• P/FCF Ratio: 26.27
• Enterprise Value/Market Cap: 0.82
• Enterprise Value/Revenue: 3.08
• Enterprise Value/Gross Profit: 3.79
• Enterprise Value/Ebitda: 12.34
• 1Y Price Target: $87.35
• Price Target Upside: 45.70% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 19
• EPS Forecast (FY): 2.79
• Revenue Forecast (FY): $3.17B

• Rating: 75 Outperform
• Price Target: $69.00 ▲(15.10% Upside)

BioMarin Pharmaceutical's strong financial performance and strategic acquisition of Amicus Therapeutics are significant positives, supporting its growth trajectory. However, technical indicators suggest the stock may be overbought, and valuation metrics indicate moderate attractiveness. Earnings call insights reveal both strengths and challenges, balancing the overall sentiment.

Positive Factors

Revenue Growth

Strong revenue growth indicates robust market demand and successful product adoption, enhancing long-term financial stability.

Cash and Investments

A strong cash position provides financial flexibility for strategic investments, acquisitions, and R&D, supporting future growth.

Acquisition of Amicus

The acquisition diversifies BioMarin's portfolio, enhancing its competitive position and potential for revenue growth in rare diseases.

Negative Factors

IPR&D Charge Impact

The significant IPR&D charge increases expenses, impacting margins and profitability, potentially straining financial resources.

Divestment of ROCTAVIAN

Divesting ROCTAVIAN may reduce future revenue streams, affecting long-term growth prospects and strategic focus.

Discontinuation of BMN 349

Halting BMN 349 development removes a potential future product, narrowing the pipeline and affecting growth expectations.

BioMarin Pharmaceutical Business Overview & Revenue Model

Company Description

BioMarin Pharmaceutical Inc. develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease. The company's commercial products also comprise Palynziq, a PEGylated recombinant phenylalanine ammonia lyase enzyme, which is delivered through subcutaneous injection to reduce blood Phe concentrations; Brineura, a recombinant human tripeptidyl peptidase 1 for the treatment of patients with ceroid lipofuscinosis type 2, a form of Batten disease; Voxzogo, a once daily injection analog of c-type natriuretic peptide for the treatment of achondroplasia; and Aldurazyme, a purified protein designed to be identical to a naturally occurring form of the human enzyme alpha-L-iduronidase. In addition, it develops valoctocogene roxaparvovec, an adeno associated virus vector, which is in Phase III clinical trial for the treatment of patients with severe hemophilia A; BMN 307, an AAV5 mediated gene therapy, which is in Phase 1/2 clinical trial to normalize blood Phe concentration levels in patients with PKU; and BMN 255 that is in Phase 1/2 clinical trial for treating primary hyperoxaluria. The company serves specialty pharmacies, hospitals, and non-U.S. government agencies, as well as distributors and pharmaceutical wholesalers in the United States, Europe, Latin America, and internationally. BioMarin Pharmaceutical Inc. has license and collaboration agreements with Sarepta Therapeutics, Ares Trading S.A., Catalyst Pharmaceutical Partners, Inc., and Asubio Pharma Co., Ltd. The company was incorporated in 1996 and is headquartered in San Rafael, California.

How the Company Makes Money

BioMarin generates revenue primarily through the sale of its proprietary biopharmaceutical products. The company has a diversified revenue model, with key revenue streams coming from the sale of its approved therapies, which are often priced at a premium due to their specialized nature and the rarity of the conditions they address. In addition to direct product sales, BioMarin benefits from collaborations and partnerships with other pharmaceutical companies and research institutions, which can include licensing agreements and co-development deals. These partnerships not only provide additional funding and resources for research and development but can also lead to shared revenue from successful product launches. Furthermore, the company's focus on expanding its product pipeline and entering new markets is expected to drive future growth, enhancing its earnings potential.

BioMarin Pharmaceutical Financial Statement Overview

Summary

BioMarin Pharmaceutical demonstrates strong financial health with impressive revenue and profit growth, efficient cost management, and a solid balance sheet. The company is well-positioned in the biotechnology industry, with low leverage and strong cash flow generation, which provides a stable foundation for future growth.

Income Statement

BioMarin Pharmaceutical has shown impressive revenue growth, with a TTM growth rate of 99.2%. The company maintains strong profitability metrics, with a gross profit margin of 79.6% and a net profit margin of 21.5% in the TTM. The EBIT and EBITDA margins have also improved significantly over the years, indicating efficient cost management and operational performance.

Balance Sheet

The balance sheet reflects a solid financial position with a low debt-to-equity ratio of 0.10, indicating conservative leverage. The return on equity has improved to 11.5% in the TTM, showcasing enhanced profitability. The equity ratio stands at a healthy level, suggesting a strong capital structure.

Cash Flow

Cash flow analysis reveals robust growth in free cash flow, with a 20.2% increase in the TTM. The operating cash flow to net income ratio is strong at 1.12, indicating efficient cash generation relative to earnings. The free cash flow to net income ratio of 0.90 further underscores the company's ability to convert profits into cash.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	3.09B	2.85B	2.42B	2.10B	1.85B	1.86B
Gross Profit	2.52B	2.27B	1.89B	1.59B	1.38B	1.34B
EBITDA	772.37M	650.53M	306.77M	265.36M	47.43M	83.66M
Net Income	520.42M	426.86M	167.65M	141.56M	-64.08M	854.03M
Balance Sheet
Total Assets	7.61B	6.99B	6.84B	6.38B	6.00B	5.85B
Cash, Cash Equivalents and Short-Term Investments	1.48B	1.14B	1.07B	1.29B	1.01B	1.07B
Total Debt	596.66M	649.47M	1.10B	1.09B	1.09B	1.09B
Total Liabilities	1.56B	1.33B	1.89B	1.77B	1.74B	1.74B
Stockholders Equity	6.06B	5.66B	4.95B	4.60B	4.27B	4.11B
Cash Flow
Free Cash Flow	831.36M	475.42M	62.57M	54.94M	185.31M	-52.15M
Operating Cash Flow	913.98M	572.84M	159.26M	175.90M	304.54M	85.36M
Investing Cash Flow	-295.39M	136.49M	-111.24M	-20.03M	-366.31M	-53.62M
Financing Cash Flow	-42.69M	-526.45M	-18.73M	-18.65M	-48.00K	181.12M

BioMarin Pharmaceutical Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 59.95
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BMRN, the sentiment is Positive. The current price of 59.95 is above the 20-day moving average (MA) of 55.14, above the 50-day MA of 54.22, and above the 200-day MA of 57.72, indicating a bullish trend. The MACD of 1.47 indicates Negative momentum. The RSI at 64.36 is Neutral, neither overbought nor oversold. The STOCH value of 73.26 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BMRN.

BioMarin Pharmaceutical Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BMRN	75 Outperform	$11.56B	22.46	9.07%	―	12.31%	60.21%
PTCT	72 Outperform	$6.29B	9.18	―	―	97.54%	―
JAZZ	64 Neutral	$10.38B	―	-9.06%	―	4.14%	-179.96%
RARE	57 Neutral	$3.34B	-5.76	-325.76%	―	20.63%	8.09%
SMMT	53 Neutral	$13.68B	-14.61	-292.49%	―	―	-348.63%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
IMVT	45 Neutral	$5.42B	-9.25	-95.93%	―	―	-27.70%

BioMarin Pharmaceutical Corporate Events

BioMarin to Acquire Amicus, Expanding Rare Disease Portfolio

On December 19, 2025, BioMarin Pharmaceutical agreed to acquire Amicus Therapeutics in an all-cash deal valuing Amicus at approximately $4.8 billion, or $14.50 per share, a premium of up to 58% over recent trading averages. The transaction, unanimously approved by both boards and recommended by Amicus’ directors, is expected to close in the second quarter of 2026, subject to shareholder approval and antitrust clearances, and will be financed through a mix of cash and about $3.7 billion in new non-convertible debt backed by a bridge facility from Morgan Stanley. The acquisition will add Amicus’ marketed rare disease drugs Galafold for Fabry disease and Pombiliti + Opfolda for Pompe disease, as well as U.S. rights to late-stage kidney disease candidate DMX-200, immediately expanding and diversifying BioMarin’s rare disease portfolio and revenue base. BioMarin forecasts that the deal will accelerate long-term revenue growth, be accretive to non-GAAP earnings per share within 12 months of closing and substantially accretive from 2027, while targeting gross leverage below 2.5x within two years. In a related move that strengthens the combined company’s intellectual property position, Amicus also resolved U.S. patent litigation over Galafold, granting generic rivals licenses that allow entry no earlier than January 30, 2037, thereby extending expected U.S. market exclusivity for the drug and underpinning its projected contribution to BioMarin’s growth and cash flow profile.

BioMarin Names New Chief Accounting Officer

On December 11, 2025, BioMarin Pharmaceutical announced the appointment of Rashmi Ramchandani as its Vice President, Chief Accounting Officer, effective January 19, 2026. Ms. Ramchandani, a seasoned executive with extensive experience in accounting and finance across organizations such as Gilead Sciences, Deloitte, and McKesson Corporation, will also take on the role of principal accounting officer, succeeding Brian Mueller, who remains BioMarin’s CFO. Along with her appointment, the company outlined a comprehensive compensation package for Ms. Ramchandani, reflecting its strategic commitment to onboarding experienced talent to strengthen its financial management and operational foundations.