BioMarin Pharmaceutical Inc. (BMRN) Stock

BioMarin Pharmaceutical Inc. (BMRN) is a Healthcare stock trading at $66.68 (as of 2026-08-21), with a market capitalization of $12.91B and a trailing P/E of 176.9. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

BioMarin Pharmaceutical Inc. develops and markets treatments for people with serious, life-threatening rare diseases and medical conditions. Its products include therapies such as enzyme replacement and related approaches for disorders including MPS IV, MPS VI, ceroid lipofuscinosis type 2, and phenylketonuria, along with treatments for achondroplasia and other targeted indications.

Understand BioMarin Pharmaceutical Inc.: how it makes money

BioMarin Pharmaceutical develops and commercializes therapies for serious, life-threatening rare diseases, and makes money by selling its approved commercial products such as Vimizim, Naglazyme, Kuvan, and VOXZOGO.

Profitability is driven primarily by recurring commercial product sales for rare-disease therapies, so the companys gross profit and operating income are highly sensitive to the revenue mix across its key drugs.

Revenue by segment (latest quarter)
VOXZOGO	$0.3B
VIMIZIM	$0.2B
NAGLAZYME	$0.1B
PALYNZIQ	$0.1B

Business quality (Mixed): Product-led model with clear, trackable commercial-drug revenue streams, balanced by concentration risk in a limited set of therapies.

Valuation: At 40× earnings, BMRN trades 139% above the Pharmaceutical Products average (17×). Note: one-time items can distort reported P/E.

Bull case

Commercial rare-disease franchise: The company develops and commercializes therapies for serious and life-threatening rare diseases, with marketed products including Vimizim (enzyme replacement for MPS IV A) and VOXZOGO (treatment for MPS).
High profitability from product sales: In the latest quarter, gross margin was 74.6% and operating margin was 16.9%, supporting that commercial product revenue can translate into strong profitability.
Meaningful contribution from multiple marketed products: Several products contribute to revenue in the latest quarter, including VOXZOGO (0.27B), VIMIZIM (0.21B), and other marketed therapies.

Bear case

Revenue concentration in a few products: The latest-quarter revenue breakdown shows material dependence on a small set of therapies (VOXZOGO, VIMIZIM, NAGLAZYME, and PALYNZIQ), so performance pressure on any one product can affect total results.
Profitability sensitivity to product mix: Because gross profit and operating income depend on translating product revenue into operating margin, changes in relative sales among key products can move overall profitability even if some products remain steady.

Valuation — source: SEC EDGAR (first-party)
Price	$66.68
Market Cap	$12.91B
P/E Ratio	176.9
EV / EBITDA	73.0
Price / Book	2.04
Price / Sales	3.79
FCF Yield	5.7%
DCF Value (model)	$30.61
DCF Upside vs Price	-54.1%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$3.22B
Net Margin	10.8%
Revenue Growth (YoY)	19.9%
EPS Growth (YoY)	-81.6%
FCF Growth (YoY)	-17.2%

Financial Health — source: SEC EDGAR
Altman Z-Score	6.24 (safe)

Valuation vs Sector & Industry
Stock P/E	176.9
Sector P/E (Healthcare)	21.7
Industry P/E (Pharmaceutical Products)	17.2
vs Sector	713.8%
vs Industry	929.9%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock, Inc. ($1.12B)
Institutional Holders Tracked	10
Congressional Trades (recent)	1

Company
Sector	Healthcare
Industry	Pharmaceutical Products
CEO	Alexander Hardy
Employees	3,040
Country	US
IPO Date	1999-07-26

Related Companies (Pharmaceutical Products; 8 comparable drugmakers)

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.