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BioMarin Pharmaceutical
(NASDAQ:BMRN)
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Rating:61Neutral
Price Target:
$58.00
▼(-12.28% Downside)
Action:Reiterated
Date:10/08/26
BMRN scores moderately, anchored by solid underlying financial quality (strong cash generation and conservative leverage) and an upbeat earnings outlook with raised 2026 guidance and synergy expectations. The score is held back by the sharp recent profitability/ROE deterioration, very expensive valuation (high P/E with no dividend yield provided), and weak technical trend/momentum despite oversold readings.
Positive Factors
Revenue Growth and Raised Guidance
Strong quarterly growth and raised full-year guidance indicate continued demand across BioMarin’s rare-disease portfolio. Broad-based commercial execution and expanding patient adoption can support durable revenue compounding beyond a single reporting period.
Negative Factors
Profitability Compression
The sharp decline in operating and net profitability shows that recent revenue growth is not translating efficiently into earnings. If margins remain compressed, lower returns on equity could constrain shareholder value creation and reduce the durability of reported earnings.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth and Raised Guidance
Strong quarterly growth and raised full-year guidance indicate continued demand across BioMarin’s rare-disease portfolio. Broad-based commercial execution and expanding patient adoption can support durable revenue compounding beyond a single reporting period.
Read all positive factors
BioMarin Pharmaceutical Key Performance Indicators (KPIs)
Any
Revenue by Segment
Breaks down revenue across different business units, highlighting which products or services drive the most sales and indicating areas of growth or potential risk.
Breaks down revenue across different business units, highlighting which products or services drive the most sales and indicating areas of growth or potential risk.
Data provided by:
The Fly
The FlyBioMarin Pharmaceutical (BMRN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$10.93B
Dividend YieldN/A
Average Volume (3M)2.30M
Price to Earnings (P/E)145.3
Beta (1Y)0.50
Revenue Growth13.69%
EPS Growth-89.03%
CountryUS
Employees3,221
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)0.38
Shares Outstanding193,573,760
10 Day Avg. Volume2,621,710
30 Day Avg. Volume2,300,451
Financial Highlights & Ratios
PEG Ratio-1.71
Price to Book (P/B)1.87
Price to Sales (P/S)3.54
P/FCF Ratio15.72
Enterprise Value/Market Cap1.32
Enterprise Value/Revenue4.25
Enterprise Value/Gross Profit5.62
Enterprise Value/Ebitda37.52
Forecast
1Y Price Target
$93.00Price Target Upside40.65% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering23
EPS Forecast (FY)3.55
Revenue Forecast (FY)$3.91B
BioMarin Pharmaceutical Business Overview & Revenue Model
Company Description
BioMarin Pharmaceutical Inc. specializes in creating and bringing to market treatments for individuals suffering from severe and often fatal rare disorders and other critical medical conditions. The company currently markets several key pharmaceut...
How the Company Makes Money
BioMarin makes money primarily by selling its approved prescription medicines to wholesalers, specialty pharmacies, hospitals/clinics, and other healthcare channels, with patients gaining access through reimbursement by government and commercial i...
BioMarin Pharmaceutical Earnings Call Summary
Earnings Call Date:Aug 06, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 03, 2026
Earnings Call Sentiment Positive
The call was strongly optimistic, driven by 20% revenue growth, raised full-year guidance, strong Voxzogo retention and patient growth, rapid Amicus integration, substantial synergy expectations, and a broader commercial and clinical pipeline. Offsetting factors included year-over-year EPS pressure from acquisition financing and higher expenses, near-term Amicus dilution, Voxzogo competitive switching, order-timing variability, diagnostic challenges, and pending legal and clinical uncertainties. Highlights significantly outweighed the lowlights.Positive Updates
Second-Quarter Revenue Growth
Second-quarter total revenue reached nearly $1 billion, representing 20% year-over-year growth, supported by a more diversified portfolio and strong commercial execution.
Negative Updates
Year-Over-Year EPS Decline
Non-GAAP diluted EPS was $1.20 in the second quarter and decreased year over year because of higher operating expenses, increased interest expense from acquisition debt financing, and lower interest income after liquidating investments to fund the acquisition.
Read all updates
Q2-2026 Updates
Positive
Negative
Second-Quarter Revenue Growth
Second-quarter total revenue reached nearly $1 billion, representing 20% year-over-year growth, supported by a more diversified portfolio and strong commercial execution.
Read all positive updates
Company Guidance
BioMarin raised full year 2026 total revenues, Voxzogo revenue, and non GAAP diluted earnings per share guidance, reflecting double digit growth from the midpoint, with Voxzogo revenue guidance for over $1 billion and full year total revenues and Voxzogo at the low end of $1 billion; third quarter revenue is expected to be slightly higher than the second quarter, fourth quarter revenue is expected to be the strongest quarter and represent well over 50% of second half revenue, third quarter non GAAP earnings per share is expected to be slightly higher than Q2, and fourth quarter non GAAP earnings per share is expected to be significantly higher and the highest quarterly earnings per share of the year. Galafold is projected to reach $1.4 billion peak revenue by the mid 20 thirties, with an approximately 10% CAGR from 2027 to 2032, while Pombility and Opfolda are estimated at $1.2 billion peak revenue by the mid- to late 2030s, growing at a greater than or equal to 20% CAGR from 2027 to 2032; approximately $220 million of synergies are expected to be fully realized in 2028, representing a roughly 50% reduction from Amicus' 2025 non GAAP operating expenses of $432 million, with more than 70% from G&A, half to slightly more than half realized next year, non GAAP diluted EPS accretion beginning in 2027, combined non GAAP operating margin over 60% by 2030, and deleveraging approximately 1 year sooner than initially communicated.BioMarin Pharmaceutical Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
74
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.41B | 3.22B | 2.85B | 2.42B | 2.10B | 1.85B |
| Gross Profit | 2.57B | 2.48B | 2.27B | 1.89B | 1.59B | 1.38B |
| EBITDA | 385.69M | 572.94M | 650.53M | 306.77M | 265.36M | 47.43M |
| Net Income | 72.97M | 348.90M | 426.86M | 167.65M | 141.56M | -64.08M |
Balance Sheet | ||||||
| Total Assets | 11.72B | 7.59B | 6.99B | 6.84B | 6.38B | 6.00B |
| Cash, Cash Equivalents and Short-Term Investments | 874.00M | 1.56B | 1.14B | 1.07B | 1.29B | 1.01B |
| Total Debt | 4.20B | 642.87M | 649.47M | 1.10B | 1.09B | 1.09B |
| Total Liabilities | 5.40B | 1.51B | 1.33B | 1.89B | 1.77B | 1.74B |
| Stockholders Equity | 6.32B | 6.09B | 5.66B | 4.95B | 4.60B | 4.27B |
Cash Flow | ||||||
| Free Cash Flow | 732.88M | 724.96M | 475.42M | 51.65M | 54.94M | 185.31M |
| Operating Cash Flow | 857.09M | 827.99M | 572.84M | 159.26M | 175.90M | 304.54M |
| Investing Cash Flow | -4.75B | -414.24M | 136.49M | -111.24M | -20.03M | -366.31M |
| Financing Cash Flow | 3.55B | -42.39M | -526.45M | -18.73M | -18.65M | -48.00K |
BioMarin Pharmaceutical Technical Analysis
Negative
66.12
Price Trends
61.97
Negative
60.48
Negative
58.49
Negative
Market Momentum
-1.80
Negative
44.34
Neutral
59.20
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BMRN, the sentiment is Negative. The current price of 66.12 is above the 20-day moving average (MA) of 56.62, above the 50-day MA of 61.97, and above the 200-day MA of 58.49, indicating a neutral trend. The MACD of -1.80 indicates Negative momentum. The RSI at 44.34 is Neutral, neither overbought nor oversold. The STOCH value of 59.20 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BMRN.
BioMarin Pharmaceutical Risk Analysis
BioMarin Pharmaceutical disclosed 52 risk factors in its most recent earnings report. BioMarin Pharmaceutical reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
BioMarin Pharmaceutical Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $13.88B | 13.95 | 21.37% | ― | 12.59% | ― | |
61 Neutral | $10.93B | 145.29 | 1.18% | ― | 13.69% | -89.03% | |
59 Neutral | $12.66B | -14.13 | -204.33% | ― | ― | -11.10% | |
55 Neutral | $5.86B | -10.06 | -69.59% | ― | ― | 1.28% | |
54 Neutral | $5.25B | -127.80 | 21.72% | ― | -42.84% | -106.21% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $1.57B | -2.73 | 392.35% | ― | 17.50% | -5.66% |
* Healthcare Sector Average
BMRN
BioMarin Pharmaceutical
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2.08
3.81%
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BioMarin Pharmaceutical Corporate Events
Business Operations and StrategyLegal Proceedings
BioMarin Grants Ascendis Global License, Secures Royalty Revenues
Positive
Sep 30, 2026
On September 24, 2026, BioMarin Pharmaceutical Inc. entered into a Settlement and License Agreement with Ascendis Pharma A/S, effective as of August 28, 2026, granting Ascendis a non-exclusive, worldwide, transferable, royalty-bearing license to c...
Business Operations and StrategyProduct-Related Announcements
BioMarin ends VOXZOGO development for Noonan syndrome
Negative
Sep 15, 2026
On September 15, 2026, BioMarin Pharmaceutical Inc. announced that it had discontinued development of VOXZOGO for children with Noonan syndrome. The company reached this decision after evaluating study feasibility and the evolving treatment landsc...
Executive/Board Changes
BioMarin Pharmaceutical Adds Independent Director to Board
Positive
Sep 14, 2026
On September 10, 2026, BioMarin Pharmaceutical Inc. expanded its Board of Directors from ten to eleven members and appointed Robert Plenge, M.D., Ph.D., as an independent non-employee director, effective the same day. Plenge also joined the Board&...
Business Operations and StrategyM&A TransactionsRegulatory Filings and Compliance
BioMarin Completes Acquisition of Dutch Biotech Alesta Therapeutics
Positive
Sep 1, 2026
BioMarin Pharmaceutical Inc. has completed the acquisition of Dutch biotech company Alesta Therapeutics B.V. through a share purchase agreement initially disclosed in a filing with the U.S. Securities and Exchange Commission on August 18, 2026. Th...
Business Operations and StrategyLegal Proceedings
BioMarin Pharmaceutical Secures Global CNP Licensing Settlement
Positive
Aug 31, 2026
On August 30, 2026, BioMarin Pharmaceutical Inc. entered into a binding global settlement and license agreement term sheet with Ascendis Pharma A/S, resolving all ongoing patent-related disputes over C-type natriuretic peptide technology used in A...
Business Operations and StrategyM&A Transactions
BioMarin to Acquire Alesta Therapeutics, Expanding Skeletal Pipeline
Positive
Aug 18, 2026
On August 17, 2026, BioMarin agreed to acquire Dutch private company Alesta Therapeutics via a cash‑free, debt‑free share purchase, paying $275 million upfront and up to $215 million tied to development milestones, with closing expecte...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.