Morgan Stanley Cuts BMRN Price Target to $122
Key Points
- Morgan Stanley maintained an Overweight rating on BioMarin Pharmaceutical Inc. on October 21, 2026, lowering its price target from $124 to $122.
- Morgan Stanley's $122 price target implies 120.97% upside from BioMarin Pharmaceutical Inc.'s ($BMRN) current $55.21 share price.
- BioMarin recently traded around $55.21, sitting below both its 50-day and 200-day moving averages ahead of earnings.
- Major institutional investors like Dodge & Cox and Primecap Management adjusted their positions in earlier filing periods.
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On October 21, 2026, Morgan Stanley maintained its Overweight rating on BioMarin Pharmaceutical Inc. (NASDAQ: BMRN), adjusting its price target from $124.00 down to $122.00. According to research notes published on the event date, the firm continues to see a positive setup for the biotechnology developer even as it fine-tunes its valuation models.
BMRN
BioMarin Pharmaceutical Inc.
Morgan Stanley's Call on BioMarin Pharmaceutical Inc.
Morgan Stanley kept an Overweight stance on the stock while trimming the target price to $122.00 from $124.00. Wall Street firms frequently adjust these targets to match changing market conditions and upcoming financial reports. BioMarin closed at $55.21 on the day of the rating update.
Other Institutional Activity in BioMarin Pharmaceutical Inc.
Large funds adjusted their stakes in BioMarin during earlier reporting periods. Dodge & Cox Inc. grew its holdings by 282,511 shares, ending with 14,844,930 shares worth about $833.5 million. Primecap Management Company trimmed its position slightly, shedding 4,258 shares to hold 14,190,183 shares valued at about $796.7 million. Viking Global Investors, L.P. added 554,381 shares for a total stake of 7,616,563 shares worth roughly $427.6 million. Vestal Point Capital, LP raised its investment significantly, adding 2,449,969 shares to reach 6,025,000 shares valued at about $338.3 million. Meanwhile, AQR Capital Management, LLC reduced its holdings by 1,976,608 shares, finishing with 5,699,541 shares worth roughly $320.0 million.
BioMarin Pharmaceutical Inc. Stock Holds Steady
BioMarin recently traded around $55.21, with the shares sitting below the 50-day moving average of $62.24 and under the 200-day moving average of $58.51. The stock has moved between a 52-week low of $49.26 and a 52-week high of $70.98. The company carries a market capitalization of about $10.87 billion.
$BMRN price target
BioMarin Pharmaceutical Inc. daily closes and this analyst's $122 target. Not advice.
Recent Earnings
BioMarin reported trailing-twelve-month revenue of $3.41 billion and trailing earnings of $0.37 per share. The company is scheduled to release its next financial results on October 26, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
6 target cuts vs 3 raises.
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EPS & revenue
EPS missed estimates by 29.5%. Revenue missed estimates by 0.6%.
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Profit surprise
EBITDA missed by 14 percent. Operating income missed by 23 percent.
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Pre-earnings setup
Bar was high, analysts already very bullish.
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Analyst signal
3 target raises, 6 target cuts.
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Earnings quality
Gross margin down 5.1 points. Operating margin down 13.1 points. Positive free cash flow.
Earnings Call Summary
The company closed its acquisition of Amicus last week and is integrating two therapies for rare genetic disorders. Q1 revenue of 766 million dollars was below guidance due to order timing from strong Q4 orders, but patient demand remains robust with Voxzogo patient growth up 20 percent year over year and new adolescent label for Palynziq driving physician engagement. Management expects Q2 EPS to be only modestly higher than Q1 due to pre-close acquisition costs and revenue timing weighted to later quarters, but pivotal data readouts for Voxzogo in hypochondroplasia and BMN-401 are expected in Q2.
Guidance BioMarin raised full year revenue guidance to 3.825 to 3.925 billion dollars after closing the Amicus acquisition, which adds Galafold and Pombility to their Enzyme Therapies portfolio. They expect 20 percent revenue growth in 2026 at the midpoint, with about 55 percent of annual revenue coming in the second half of the year due to order timing and eight months of Amicus product sales beginning in May.
Severe negative reset. The report materially damaged the forward outlook and likely forces major downward revisions.
Insider Buying and Selling at BioMarin Pharmaceutical Inc.
Company insiders executed several transactions earlier in the year. Gregory R Friberg sold 6,326 shares on February 26, 2026, at an average price of $60.38 for a total of $381,937. Charles Greg Guyer, Chief Technology Officer, sold 16,486 shares on March 11, 2026, at $60.46 per share totaling $996,744. Gregory R Friberg later sold 3,281 shares on May 7, 2026, at $53.85 for a total value of $176,682. George Eric Davis sold 17,557 shares on September 2, 2026, at $66.28 per share for a total of $1,163,748.
Analysts Set New Price Targets
Analyst firms have updated their outlooks ahead of earnings. HC Wainwright & Co. reiterated a Neutral rating with a $60.00 price target on September 10, 2026. Barclays maintained an Overweight rating on October 14, 2026, raising its target from $111.00 to $114.00. JP Morgan maintained an Overweight rating on October 20, 2026, moving its target from $86.00 to $87.00. Cantor Fitzgerald also maintained an Overweight rating on October 20, 2026, keeping its target at $86.00. Across the broader community, the stock holds a consensus Buy rating with a mean price target of $91.56 from 27 analyst opinions.
About BioMarin Pharmaceutical Inc.
BioMarin Pharmaceutical Inc. is a biotechnology company based in San Rafael, California. The firm focuses on developing and delivering specialized therapies for rare, life-threatening genetic conditions and medical disorders worldwide.
Bottom Line
Investors are keeping a close watch on BioMarin as the company prepares to announce its next earnings report on October 26, 2026. Analyst updates and shifting institutional positions will remain key focal points for the stock in the near term.
Related Filing Alerts
Source: Morgan Stanley's rating change on $BMRN (Oct 21, 2026). Written by software, not financial advice. How we make alerts