BioMarin stock undervalued at current levels, says JPMorgan

JPMorgan reiterated an Overweight rating and $109 price target on BioMarin (BMRN) Pharmaceuticals following the company’s presentation at the JPMorgan Healthcare Conference. The presentation focused on key goals from both a commercial and clinical perspective, medium and long term guidance where BioMarin reiterated achieving roughly $4B in total revenue in 2027 and low-to-mid 40% adjusted operating margin starting with roughly 40% in 2026, the analyst tells investors in a research note. The firm noted that, big picture, it sees the stock as undervalued at current levels with a durable base business and potential for meaningful operating margin expansion over the next few years.