Canaccord Lifts PT on BioMarin Pharmaceutical (BMRN) to $104 From $98 - Here's Why

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) is one of the best cheap biotech stocks to buy now. Canaccord lifted the price target on BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) to $104 from $98 on February 26 and reiterated a Buy rating on the shares. It stated that while the company’s fiscal Q4 2025 earnings showed a slight top-line beat, they were otherwise uneventful, following BioMarin Pharmaceutical Inc.’s (NASDAQ:BMRN) recent announcement of the acquisition of Amicus and updates at the January investor conference.

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) also received a rating update from Guggenheim on February 25, with the firm cutting the price target on the stock to $86 from $106 while maintaining a Buy rating on the shares.

However, the same day, Bernstein lifted the price target on BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) to $94 from $90 and maintained an Outperform rating on the shares. The firm stated that revenues of $875 million beat by 5%, but EPS of 46c missed by 16%, which was primarily due to the consensus not modeling Roctavian write-down. It added that the total revenue guidance was missed by 6%, while EPS was missed by 3%, with product sales guidance looking soft on Voxzogo and solid on Enzymes.

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.