This report is an updated version of the report published on 19 February at 12:52 AM ET 

BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) 

BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) focuses on rare-disease therapies.

Recommendation Rationale – Sell at USD 63.42 

• In Q3 FY 2025, BMRN’s GAAP net loss rose to $31 Mn for Q3 FY 2025 as compared to GAAP Net Income of $106 million for Q3 FY 2024. The increase in GAAP Net Loss was mainly because of the In-Process Research & Development (IPR&D) charge of $221 million, which was witnessed related to the acquisition of Inozyme Pharma, Inc. (Inozyme).
• BMRN is exposed to the risks related to the impacts of macroeconomic and other external factors, regulatory uncertainty as well as other trade protection measures, along with the increased trade tensions.
• The company is also exposed to the government price controls or other changes related to the pricing regulation. This can limit the amount it charges for the current and future products.
• BMRN’s share price surpassed its R1 level recommended on January 21, 2026. Therefore, there can be a possible decline from the specified resistance levels.

BMRN’s Daily Price Chart

Fundamental Valuation

P/E Based Relative Valuation (Illustrative)

Considering the increasing volatility over global equity market, inflationary pressures, geopolitical tensions, etc. the company’s stock might trade at slight discount. For the valuation, peers such as Pfizer Inc (NYSE: PFE), Bristol-Myers Squibb Co. (NYSE: BMY), etc. were considered.

Given its current trading levels, and risks associated, it is prudent to book profit at the current levels.

Hence, a ‘Sell’ rating has been provided on the stock at the closing price of USD 63.42 per share, up by 2.57% as on 19 February 2026.  

BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) is part of Kalkine’s Global Big Money Report. 

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

Note 1: Past performance is neither an indicator nor a guarantee of future performance. 

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 19 February 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: Kalkine reports are prepared based on the stock prices captured either from REFINITIV or Trading View. Typically, REFINITIV or Trading View may reflect stock prices with a delay which could be a lag of 25-30 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice. 

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and downtrend may take a pause backed by demand or buying interest.  

Resistance: A level at which the stock prices tend to find resistance when they are rising, and uptrend may take a pause due to profit booking or selling interest. 

Stop-loss: In general, it is a level to protect further losses in case of any unfavourable movement in the stock prices.