BioMarin Pharmaceutical Inc.

Section 1: Company Fundamentals

1.1 Company Overview and Performance summary

Company Overview:

BioMarin Pharmaceutical Inc (NASDAQ: BMRN) is a global biotechnology company focused on translating genetic discoveries into targeted therapies for rare and serious diseases. The company markets eight commercial products, including Vimizim, Naglazyme, Palynziq, Brineura, Aldurazyme, Roctavian, Kuvan, and Voxzogo, addressing conditions such as lysosomal storage disorders, phenylketonuria, achondroplasia, and severe hemophilia A. Roctavian is a gene therapy designed to restore factor VIII levels in hemophilia A patients, while Voxzogo targets growth disorders. BioMarin also maintains a diversified clinical and preclinical pipeline, with key programs including Vosoritide, BMN 333, BMN 390, BMN 351, BMN 349, and INZ-701, the latter being a late-stage enzyme replacement therapy for ENPP1 deficiency.

This US Inflation Report covers the Company Overview & Price performance, Summary table, Key positives & negatives, Key metrics, Company details, technical guidance & Stock recommendation, and Price chart.

Price Performance:

• The stock spent much of mid-2025 in a consolidation phase after a prior downtrend, forming a base around the USD 50–55 range, with USD 50.7 acting as strong structural support.
• From late 2025 into early 2026, price action shifted to a higher high–higher low structure, signaling improving trend momentum and potential accumulation.
• The stock is currently trading above both the 20-day MA (USD 59.85) and 50-day MA (USD 58.38), indicating short-term bullish bias and positive momentum alignment.
• The moving averages are sloping upward, reinforcing strengthening technical structure in the near term.
• RSI is near 51, reflecting neutral momentum with scope for further upside before reaching overbought conditions.
• Volume spikes during upward moves support the breakout attempts, suggesting improving participation.

1.2 Summary Table

1.3 The Key Positives & Negatives

1.4 Key Metrics

Operating Leverage Inflection and Balance Sheet Reinforcement

The trend depicted in the chart highlights BioMarin’s transition from a relatively investment-intensive phase in FY21–FY23 to a period of materially stronger cash generation in FY24 and FY25. The decline in operating and free cash flow through FY23 reflects elevated R&D spending, commercialization investments for VOXZOGO expansion, and working capital movements, which also contributed to a temporary moderation in the current ratio. From FY24 onward, robust revenue growth across VOXZOGO and the Enzyme Therapies portfolio, coupled with improved operating leverage and better cash conversion, drove a sharp recovery in operating and free cash flow. By FY25, sustained top-line momentum and disciplined expense management supported further improvement in cash flows, while the current ratio remained healthy, underscoring enhanced liquidity and greater balance sheet flexibility despite ongoing strategic and portfolio actions.

Section 2: BioMarin Pharmaceutical Inc (NASDAQ: BMRN) (“Buy” at the closing market price of USD 61.11, as of Feb 26,2026)

2.1 Company Details

2.2 Technical Guidance and Stock Recommendation  

Markets are trading in a highly volatile zone currently due to certain macroeconomic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is Feb 26, 2026. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: The report publishing date is as per the Pacific Time Zone.

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

 Resistance: A level at which the stocks prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.

 Stop-loss: It is a level to protect against further losses in case of unfavorable movement in the stock prices.