Leerink Cuts BioMarin Pharmaceutical Inc. (BMRN) Price Target to $60, Citing Valuation and Competitive Challenges

Biomarin Pharmaceutical Inc. (NASDAQ:BMRN) is one of the champion biotech stocks to bargain according to Wall Street analysts. On November 18, BioMarin Pharmaceutical (NASDAQ:BMRN) presented astatine the Jefferies London Healthcare Conference, wherever CEO Alexander outlined advancement connected the company’s $500 cardinal outgo translation program, present astir two-thirds complete, and announced a extremity of reaching a 40% non-GAAP operating borderline adjacent year, up from 19% successful 2023.

He said BioMarin is concentrating connected genetically defined conditions with fewer competitors, pointing to the continued planetary rollout of Voxogo, present disposable successful 55 countries, and the ongoing maturation of much than 20% a twelvemonth for Palynziq. He besides highlighted advancement connected BMN 351 for Duchenne muscular dystrophy and the upcoming Phase 3 readouts for hypochondroplasia and Voxogo. While noting lingering regulatory and competitory pressures, Alexander stressed that the institution remains focused connected innovation, speeding up improvement of its pipeline, and creating worth for shareholders.

Meanwhile, connected December 3, analysts astatine Leerink Partners downgraded the banal to a Market Perform from Outperform and chopped the terms people to $60 from $82. Despite the downgrade, the probe steadfast echoed the company’s restructuring thrust that entails labour unit reduction, pipeline reorganization, and the discontinuation of the Roctavian program. The probe steadfast has besides echoed the acquisition of Inozyme, expected to thrust aboriginal growth.

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) is simply a planetary biotech institution focused connected processing and commercializing therapies for severe, life-threatening uncommon familial diseases by leveraging genetics to make transformative treatments.

While we admit the imaginable of BMRN arsenic an investment, we judge definite AI stocks connection greater upside imaginable and transportation little downside risk. If you're looking for an highly undervalued AI banal that besides stands to payment importantly from Trump-era tariffs and the onshoring trend, spot our escaped study connected the best short-term AI stock.

READ NEXT: 12 Best Consumer Goods Stocks Billionaires Are Quietly Buying and Goldman Sachs Penny Stocks: Top 12 Stock Picks.

Disclosure: None. This nonfiction is primitively published at Insider Monkey.