Oppenheimer upgrades BioMarin on long term outlook

Investing.com -- Oppenheimer upgraded Biomarin Pharmaceutical (TADAWUL:2070) Inc (NASDAQ: BMRN) to "Outperform" from "Perform," citing strong fourth-quarter results and increasing confidence in the company's long-term financial outlook under new leadership. The firm set a new price target of $98 on BioMarin shares.

BioMarin posted fourth-quarter revenue of $747 million, exceeding the $712 million consensus estimate, and provided 2025 guidance with both revenue and earnings expectations above Street estimates.

Oppenheimer highlighted the continued global rollout of Voxzogo, which it believes has sizable untapped potential, and projected 2025 sales of $945 million.

The firm noted BioMarin’s focus on operational efficiency, cost reductions, and strategic R&D investments, as well as upcoming pipeline catalysts, including data readouts for BMN 351 and BMN 333 later this year.

Oppenheimer raised its revenue estimates through 2027 and expects BioMarin’s cost transformation program to yield full benefits by 2026.

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