Why is BioMarin Pharmaceutical (BMRN) One of the Most Profitable Biotech Stocks to Buy?

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) is one of the most profitable biotech stocks to buy. Wells Fargo maintained a Buy rating on BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) on October 21 and set a price target of $90.

Similarly, Morgan Stanley analyst Sean Laaman also maintained a bullish stance on the stock on October 19, assigning it a Buy rating and a $104 price target.

Laaman stated that BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has considerable growth potential and a strong market position, factors that support the optimistic rating. He added that Voxzogo’s international expansion is a key performance driver for the company, as it has resulted in considerable revenue growth, with continued expansion into new countries expected.

The analyst further stated that BioMarin Pharmaceutical Inc.’s (NASDAQ:BMRN) has a competitive market position because of its strategic focus on the establishment of a solid patient base with low switch rates, particularly in younger age cohorts. In addition, the company’s strong pipeline of promising treatments represents catalysts for future growth, including BMN 333 and BMN 351.

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) 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.

While we acknowledge the potential of BMRN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.