2 models fit BioMarin Pharmaceutical Inc. Common Stock and they disagree: 0 of 2 land within 15% of the average. The price is above every model.
Two or more of our models back this value.
Premium(i)Silver69
Valued as a mature, profitable company: Discounted cash flow, P/E comparison, EV/EBITDA comparison, and Graham number.
ACCE opinionBioMarin Pharmaceutical Inc. Common Stock (BMRN)
Fair value (2 models)
$45.17
ACCE price target
$75.20
Rating
Overvalued
Horizon
12 months
Fair value published on 19 Oct 2026, 19:04 CEST; previously $64.63 since 15 Oct 2026, 00:00 CEST.
ACCE price target published on 15 Oct 2026, 00:00 CEST; previously $81.00 since 18 Apr 2026, 00:00 CEST.
Rating published on 19 Oct 2026, 19:04 CEST.
Price used: $55.95 at the close on 23 Oct 2026, 22:00 CEST.
Models: Discounted cash flow and Graham number.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
Price vs fair value
23.9% above
-19.3% to fair value
ACCE score
56
out of 100
Analysts
75% buy
28 covering
P/E
151.2x
forward 8.4x
1-year return
+2.6%
Dividend yield
0.00%
BioMarin Pharmaceutical Inc. Common Stock in four questions
Plain answers, details below
Free accounts get 5 full stock pages a month, including the four answers.
Overview
ACCE thesis
BioMarin manufactures enzyme replacement therapies and gene therapies for rare genetic disorders, with lead products Voxzogo (achondroplasia), Palynziq (phenylketonuria), and Roctavian (hemophilia A). The company benefits from high barriers to entry in rare disease treatment, where regulatory approval and manufacturing complexity create durable competitive moats around each indication. Roctavian, a one-time gene therapy approved in 2023, represents a shift toward curative rather than chronic dosing models and should drive a step change in revenue per patient. The forward PE of 9.4x reflects market skepticism about Roctavian's commercial trajectory despite peak sales estimates exceeding $1 billion; if adoption reaches even 40% of addressable hemophilia A patients, the stock offers substantial upside from current levels. Operating margin of 21.2% on a 19.9% revenue growth rate suggests the business is already profitable at scale, reducing execution risk relative to earlier-stage biotech peers.
⚠ Investor warnings · 1 flagAI-assisted·How I use AI
moderate
Earnings collapse despite revenue growth
Revenue grew 19.9% YoY, but earnings fell 81.3%, and net margin is only 2.1%. The P/E of 149.7 against a forward P/E of 9.4 shows the market is pricing in a large earnings recovery that hasn't happened yet.
AI research notes
AI-assisted·How I use AIWritten Oct 14, 2026 · figures from 2026-06-30 · prices to Oct 23, 2026
Why it could do well
Revenue grew 19.9% year over year, well ahead of its 11.6% average annual pace over five years.
At a 9.4x forward P/E, the stock trades far below the sector median of 23.6x.
Why it could disappoint
Net margin is only 2.1% and return on equity just 1.2%, so profits are thin relative to the business.
The trailing P/E of 149.7x is far above the forward P/E of 9.4x, so earnings expectations carry much of the valuation.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.
Next results
Oct 26, 2026
We update the fair value about 2 days after the results, once the new figures are filed.Add to calendarGoogle
Walk me through this stock
Plain-English pros, cons, and what to watch. Pro feature.
PRO
Ask ACCE
Valuation
INVESTOR
Where BMRN's valuation models land
Price
$55.95
Model fair value
$45.17
Model range
$35.36 to $54.98
Fair value $45.17
Price $55.95
The price is above the whole model range.
Model
Fair value
Upside
Discounted cash flow
EV/EBITDA comparison
Graham number
P/E comparison
Create a free account: 5 full stock pages a month, no card.
See what each model says, the assumptions behind it, the bad, normal and good cases, and why the fair value changed.
Quality
INVESTOR
Quality and conviction INVESTOR FEATURE
The full quality picture: a reason under every score, how the scores moved, and the conviction breakdown.
+A plain reason under every score
+Conviction breakdown and growth / value / quality / momentum scores
ACCE Biotech Catalysts sits at NAV 1080.42 with VRTX, BMRN, LLY, REGN and SRPT holding the top five slots. Here's what the weights and sector signals reveal.
ARKG returned +76.9% and XBI +88.6% over 12 months. Here's what's inside the ACCE Biotech Catalysts index and why VRTX, SRPT, BMRN, LLY, and REGN anchor it.