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what it is
BioMarin makes drugs for rare diseases, where a small patient pool can still produce billions in annual sales.
how it gets paid
Last year Biomarin Pharm made $3.2B in revenue.
why it's growing
Revenue grew 12.9% last year. Consensus called the quarter a rough EPS miss, and filing-backed quarterly revenue/EPS can look extreme when vs. prior year windows get mixed — use the earnings section below for the clean read.
what just happened
BioMarin's headline problem was an EPS miss: -$0.24 versus the $0.91 consensus estimate.
At a glance
B+ balance sheet — decent shape, but not bulletproof
25/100 earnings predictability — expect surprises
16.6x trailing p/e — the market's not buying it — or you found a deal
18.5% return on capital — nothing to write home about
xvary composite: 47/100 — below average
What they do
BioMarin makes drugs for rare diseases, where a small patient pool can still produce billions in annual sales.
Rare disease drugs are sticky because patients do not shop around when a therapy works. BioMarin turned that into $3.2 billion of annual revenue, and its return on capital was 18.5%. Return on capital → profit earned on each dollar invested → so what: this business still turns specialized science into real money.
How they make money
$3.2B
annual revenue · their business grew +12.9% last year
total revenue
$3.2B
+12.9%
The products that matter
commercial rare-disease therapies
Approved rare disease portfolio
$3.2B revenue · 27.2% net margin
it's the whole commercial engine, producing $3.2B in revenue last year while keeping 27.2 cents of every sales dollar as profit. in human-speak: this is a real drug business, not a pre-revenue science bet.
commercial core
Key numbers
$87
18-month target
That is 45% above $59.87, so the stock is cheap only if earnings noise fades fast.
16.6x
trailing p/e
P/E → stock price divided by yearly profit → so what: you are paying a market multiple, not a biotech fantasy multiple.
18.5%
return on capital
Return on capital → profit on invested money → so what: BioMarin still earns better returns than many drug peers.
$597M
long-term debt
That is 5% of capital, which leaves the balance sheet more annoyance than threat.
Financial health
B+
strength
- balance sheet grade B+ — solid but not elite
- risk rank 3 — safer than 50% of stocks
- price stability 65 / 100
- long-term debt $597M (5% of capital)
- net profit margin 24.0% — keeps 24 cents of every dollar in revenue
- return on equity 20% — $0.20 profit for every $1 investors have put in
B+ — functional but not a standout on the balance sheet.
Total return vs. market
You invested $10,000 in BMRN 3 years ago → it's now worth $5,490.
The index would have given you $13,880.
source: institutional data · total return
What just happened
missed estimates
BioMarin's headline problem was an EPS miss: -$0.24 versus the $0.91 consensus estimate.
Consensus says the quarter missed badly, while EDGAR shows the latest quarter at $2.3 billion of revenue, up 202% vs. prior year, and EPS of $2.04, up 1,375%. Earnings miss → profit came in below expectations → so what: you need the next report to clean up the story fast.
$0.24
reported eps
$0.91
est. eps
80.7%
surprise
the number that mattered
The 80.7% EPS miss matters most because valuation only stays cheap if investors trust the earnings path.
-
biomarin pharmaceutical has entered into an agreement to acquire amicus therapeutics.both boards of directors have approved the transaction, and, pending regulatory approval, is expected to close by mid-2026. under the terms of the deal, biomarin would pay amicus shareholders $14.50 in cash per share for a transaction total of $4.8 billion.
-
we like the merger, and believe the union will make the company more competitive.
-
should the deal go through, biomarin will acquire already-marketed medicines.first, galafold is marketed for the treatment of fabry disease and has patent protection through january, 2037. second, pombiliti+opfolda (a combination therapy, both of which belong to amicus) is used to treat pompeii disease.
-
the medicines currently have a total annual revenue tally of around $600 million.
-
the merger should be accretive to revenue and earnings upon consummation.
source: Yahoo Finance consensus, 2026
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What could go wrong
the top risk is price pressure on orphan-drug economics. BioMarin earns a 27.2% net margin because rare-disease drugs can command premium pricing across a relatively small patient base.
med
price negotiation hits the core model
if regulators or payers squeeze orphan-drug pricing, the part of the story investors pay for gets smaller fast. high margins are the appeal here and the target.
with $3.2B in revenue and a 27.2% net margin, even modest pricing pressure would show up quickly in earnings power.
med
the replacement cycle disappoints
approved drugs fund the company today. what the stock needs next is confidence that new assets or acquired products can keep growth above the low-single digits.
Q4 revenue grew 4% while the full year grew 12.9%. if that slower pace becomes the norm, the rerating case weakens.
med
the amicus deal has to earn its keep
a $4.8B acquisition is not a side quest for a company with a ~$12B market cap. if integration slips, investors stop viewing the deal as growth insurance and start viewing it as expensive cover.
the strategy makes sense because the assets are marketed. your risk is paying up and still failing to change the growth profile.
BioMarin can handle ordinary noise. what it cannot handle lightly is a weaker pricing model, a slower post-portfolio growth rate, or a large acquisition that does not move the story.
source: institutional data · regulatory filings · risk analysis
Pay attention to
metric
whether 12.9% full-year growth was a peak or a base
that number is the cleanest argument for upside. if growth starts looking more like Q4's 4%, the stock stops looking ignored and starts looking correctly priced.
risk
pricing pressure on orphan drugs
27.2% net margins are why this business matters. they are also the first thing payers and policymakers will stare at.
calendar
the next earnings print
Q4 2025 came in at $1.25 EPS on $0.8B revenue. you want profitability to stay routine and revenue growth to look less sleepy than 4%.
trend
whether m&a becomes the growth engine
the $4.8B amicus agreement says management is willing to buy the next chapter. if you own the stock, deal discipline now matters as much as lab results.
Analyst rankings
short-term outlook
below average
momentum score 4 — in human-speak, analysts do not expect BMRN to lead the tape near term.
risk profile
average
stability score 3 — neither defensive nor chaotic. you get normal large-cap risk with biotech headline risk layered on top.
chart momentum
below average
technical score 4 — the chart says investors are waiting for proof, not chasing anticipation.
earnings predictability
25 / 100
earnings can surprise you here. that is common in biotech, and it also means the stock rarely gets blind trust.
source: institutional data
Institutional activity
institutions have been net buying for 3 consecutive quarters — 288 buyers vs. 270 sellers in 3q2025. total institutional holdings: 0.2B shares. net buying for 3 quarters.
source: institutional data
Price targets
3-5 year target range
$53
$121
$60
current price
$87
target midpoint · +45% from current · 3-5yr high: $135 (+125% · 22% ann'l return)
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