BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) is a California-based biotech company with therapies for rare diseases like VIMIZIM, VOXZOGO, NAGLAZYME, and PALYNZIQ. Analysts have mixed views on its stock performance, with price targets ranging from $55 to $122. Recent downgrades and workforce cuts have raised concerns about its future prospects.

Leerink reduced BioMarin Pharmaceutical Inc.’s price target from $82 to $60 and downgraded it to Market Perform due to new leadership actions, competitive pressure in achondroplasia, and a gap in the company’s pipeline. Bernstein also lowered its price target to $88 from $95. Analysts believe M&A may be necessary to boost the stock.

Despite recent downgrades, most analysts rate BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) as a ‘Buy,’ with a median price target of $91 indicating a 70% upside potential. The company’s performance has met revenue expectations but missed EPS targets. The stock faces uncertainty and the need for strategic measures to improve its current status.

Read more at Yahoo Finance: BioMarin Pharmaceutical Inc. (BMRN) Outlook Lowered By Leerink