BioMarin PT Raised to $94 After 17% Q4 Revenue Gain and Amicus Deal
Bernstein raised BioMarin’s price target to $94 from $90 and maintained an Outperform rating after Q4 revenues of $875 million rose 17% year-over-year, though EPS of $0.46 missed by 16% due to a Roctavian write-down. Full-year sales jumped 13% to $3.2 billion and BioMarin agreed to acquire Amicus Therapeutics.
1. Analyst Upgrade and Price Target Increase
Bernstein lifted BioMarin's price target to $94 from $90 while maintaining an Outperform rating, citing stronger-than-expected Q4 sales despite an EPS miss driven by a Roctavian write-down that analysts had not modeled.
2. Q4 and Full-Year Financial Results
Fiscal Q4 revenues climbed 17% year-over-year to $875 million, led by a 31% boost in VOXZOGO sales and 13% growth in enzyme therapies. Full-year 2025 revenues rose 13% to $3.2 billion, with enzyme therapies up 9% and VOXZOGO up 26%.
3. Strategic Acquisition of Amicus Therapeutics
BioMarin signed a definitive agreement to acquire Amicus Therapeutics, aiming to diversify its product portfolio and accelerate revenue growth through expanded rare disease therapies and gene therapy candidates.