Upcoming Acquisition Resulting in Bullish Stance on BioMarin Pharmaceutical (BMRN)

BioMarin Pharmaceutical (NASDAQ:BMRN) is one of the best large cap stocks under $100 with huge upside potential.

On January 20, Canaccord Genuity analyst Whitney Ijem revised her Hold rating on BioMarin Pharmaceutical (NASDAQ:BMRN) to Buy. She also raised her price target estimate from $84 to $98, offering an upside of almost 75% from the prevailing level.

Ijem’s upward revisions are based on the company’s encouraging fundamentals and her optimism around BioMarin’s potential acquisition of Amicus Therapeutics. She believes this deal could push the stock out of its previous trading range, which stayed between $60 and $70.

On December 22, Joon Lee from Truist Securities also revised his price target forecast for BioMarin Pharmaceutical (NASDAQ:BMRN) from $80 to $100. He also maintained his Buy rating on the stock, which offers nearly 78% potential upside.

Lee also based his upgrades on prospects related to the acquisition of Amicus Therapeutics, expected to be finalized in the second quarter of 2026. The analyst sees this acquisition to be strategically aligned with BioMarin’s drug portfolio and rare disease focus. He categorically mentioned the target’s two approved drugs, Galafold and PomOp, in that regard. He also anticipates that this deal will become accretive within 12 months.

BioMarin Pharmaceutical (NASDAQ:BMRN) develops and commercializes targeted therapies for life-threatening medical conditions and rare genetic diseases. Some of its major products include VIMIZIM, VOXZOGO, NAGLAZYME, and ALDURAZYME. The company operates in more than 70 countries and currently has many drugs in the development stage.

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