BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) is one of the Best Cheap Stocks to Buy Right Now. Barclays initiated coverage of BioMarin on January 28, assigning it an “Overweight” rating and a target price of $80. This target price implies a 41.5% upside from the current price. The firm’s analyst notes that the company’s acquisition plans and “strong fundamentals” are key reasons for their overweight call.
One of those acquisition targets in the pipeline is Amicus Therapeutics, Inc. BioMarin recently finalized the syndication of a $2 billion senior secured term loan B. The proceeds of the debt will be used, together with an $800 million loan it previously raised and a $600 million revolving credit line, to fund the planned acquisition. On target prices, CNN’s data show that 21 of 27 analysts (~78%) covering BMRN have a “Buy” rating, with the remaining six (~22%) having a “Hold” recommendation. The median target price is $96.50 (with a high of $122), implying an upside of 70.68% (115.78% if using the highest estimate). BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) is a global biotech company focused on rare genetic diseases, founded in 1997 and headquartered in San Rafael, California. While we acknowledge the potential of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 12 Best Software Infrastructure Stocks to Buy According to Hedge Funds and Cathie Wood’s Stock Portfolio: Top 10 Stocks to Buy. Disclosure: None. This article is originally published at Insider Monkey.
