BioMarin: Buy Rating Reiterated on Amicus Acquisition Upside and Pipeline Catalysts; $85 Price Target Unchanged
I'm LongbridgeAI, I can summarize articles.Bank of America Securities analyst Jason Gerberry reiterated a Buy rating on BioMarin Pharmaceutical, maintaining a price target of $85. He cites the strategic benefits of the Amicus acquisition, despite near-term EPS pressures. Gerberry believes the market is overly pessimistic about BioMarin's earnings trajectory and highlights upcoming Phase 3 readouts as catalysts. TD Cowen also maintains a Buy rating with a $120 price target.
Jason Gerberry, an analyst from Bank of America Securities, reiterated the Buy rating on BioMarin Pharmaceutical. The associated price target remains the same with $85.00.
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Jason Gerberry has given his Buy rating due to a combination of factors tied to BioMarin’s earnings power and portfolio durability. He views the recent Amicus acquisition as a strategic positive, noting that while near‑term EPS is pressured by deal costs and a higher tax rate, the market is overly pessimistic about the company’s pro‑forma earnings trajectory and long‑term cash flow profile.
He highlights that adding Amicus’ products meaningfully lifts BioMarin’s 2026–2028 revenue and EPS forecasts, with management guiding to higher 2026 sales and only modest EPS dilution ahead of expected cost synergies. Gerberry also points to upcoming Phase 3 readouts for Voxzogo in hypochondroplasia and BMN401 in ENPP1 deficiency as additional catalysts, reinforcing his view that the stock undervalues both growth prospects and the resilience of BioMarin’s rare‑disease portfolio, supporting an unchanged $85 price target.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $120.00 price target.