BioMarin's Pipeline Faces Skepticism As Analyst Questions Future Growth

On Tuesday, Biomarin Pharmaceutical Inc. (NASDAQ:BMRN) reported third-quarter adjusted EPS of 91 cents, almost double the 46 cents reported a year ago, beating the consensus of 52 cents.

The company reported sales of $745.74 million, beating the consensus of $700.14 million. Sales increased 28%, driven by strong VOXZOGO contributions from new patient starts in all regions.

In the quarter, revenues from BioMarin’s Enzyme Therapies (Vimizim, Naglazyme, Aldurazyme, Brineura, and Palynziq) increased 27% year over year.

Also Read: BioMarin Stands Firm on 2027 Revenue Target Amid Ascendis Competition, Goldman Sachs Analyst Remains Bullish

Guidance: BioMarin reaffirmed its long-term guidance and outlook, targeting around $4 billion in revenues in 2027.

The company expects a 40% adjusted operating margin starting in 2026 and growing to the low-to mid-40% range over time.

William Blair has downgraded BioMarin to a Market Perform.

The analyst adds, ...