Bernstein Lifts PT on BioMarin Pharmaceutical (BMRN) to $94 From $90, Here’s Why

Core Insights - BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) is recognized as a leading gene therapy stock favored by hedge funds [1] - Bernstein raised the price target for BioMarin to $94 from $90, maintaining an Outperform rating, despite some earnings misses [1] - The company reported a 13% year-over-year increase in total revenues for fiscal year 2025, reaching $3.2 billion, driven by enzyme therapies and VOXZOGO® [2] Financial Performance - Fiscal Q4 total revenues increased by 17% year-over-year, with enzyme therapies growing by 13% and VOXZOGO by 31% [2] - Full-year revenues were primarily boosted by a 9% growth in enzyme therapies and a 26% growth in VOXZOGO® [2] - The company’s EPS of 46 cents missed expectations by 16%, largely due to unmodeled write-downs related to Roctavian [1] Strategic Developments - BioMarin announced a definitive agreement to acquire Amicus Therapeutics, which is anticipated to significantly enhance and diversify its revenue streams [2] - The company focuses on developing therapies for serious and life-threatening medical conditions and rare diseases, with a product pipeline that includes Valoctocogene roxaparvovec, Vosoritide, and BMN 307 [3]