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SAN RAFAEL, Calif. - BioMarin Pharmaceutical (TADAWUL:2070) Inc. (NASDAQ:BMRN), a global biotechnology company with a market capitalization of $13.15 billion, announced today the appointment of Timothy P. Walbert to its Board of Directors, effective immediately. Walbert, the former chairman, president, and CEO of Horizon Therapeutics (NASDAQ:HZNP), brings over three decades of experience in the pharmaceutical industry to BioMarin’s board. According to InvestingPro analysis, BioMarin maintains a "GREAT" financial health score, positioning it well among its biotechnology peers.
Walbert’s career includes leadership roles at several notable pharmaceutical companies, including IDM Pharma, NeoPharm Inc., Abbott Laboratories (NYSE:ABT), Pharmacia, Merck (NSE:PROR), Pfizer (NYSE:PFE), and Wyeth Ayerst. Following Horizon’s acquisition by Amgen (NASDAQ:AMGN) in 2023, Walbert has been serving as a senior advisor at Amgen. He is also a board member of Sagimet Biosciences, Mirum Pharmaceuticals (NASDAQ:MIRM), and Century Therapeutics.
Alexander Hardy, president and CEO of BioMarin, expressed his pleasure at welcoming Walbert to the board, highlighting his operational expertise and commitment to patient-centered care. Hardy believes that Walbert’s business acumen and focus on commercializing medicines will greatly benefit BioMarin’s strategic vision.
For his part, Walbert expressed enthusiasm for joining BioMarin’s board, particularly in supporting the company’s innovation-driven strategy laid out the previous year. He emphasized his dedication to prioritizing patient needs and advancing new treatments for genetically defined conditions.
BioMarin, headquartered in San Rafael, California, was founded in 1997 and has established itself as an innovator in the biotechnology field, with eight commercial therapies and a robust pipeline of clinical and preclinical projects. The company’s mission is to transform genetic discoveries into new medical treatments that significantly improve patients’ lives, focusing on rare and challenging genetic disorders. Financial data from InvestingPro shows the company’s strong performance with revenue reaching $2.85 billion and impressive year-over-year growth of 18%. Currently trading below its Fair Value, BioMarin presents an interesting opportunity for investors interested in the biotech sector.
This announcement contains forward-looking statements regarding the potential impact of Walbert’s board appointment and BioMarin’s strategic initiatives. However, these statements are subject to risks and uncertainties, and actual results may differ. BioMarin cautions stockholders not to place undue reliance on these forward-looking statements, which reflect the company’s views only as of today. For a deeper understanding of BioMarin’s financial health and growth potential, investors can access comprehensive analysis and additional ProTips through InvestingPro’s detailed research reports, available for over 1,400 US stocks.
The information in this article is based on a press release statement from BioMarin Pharmaceutical Inc.
In other recent news, BioMarin Pharmaceutical Inc. has reported impressive financial results, with fourth-quarter 2024 revenues reaching $747 million, surpassing the consensus estimate of $712 million. The company’s guidance for 2025 suggests a revenue increase of 9-12% year-over-year, targeting $3.1 billion to $3.2 billion, which is above the consensus estimate of $3.095 billion. Analysts from Oppenheimer upgraded BioMarin’s stock rating to Outperform, citing confidence in the company’s long-term financial prospects and operational efficiency. Cantor Fitzgerald maintained an Overweight rating, noting BioMarin’s strong growth potential, while BMO Capital Markets reiterated an Outperform rating, highlighting the company’s ability to surpass $4 billion in revenues by 2027. Piper Sandler raised the price target for BioMarin shares to $126, reflecting optimism about the company’s earnings potential and robust growth of its product, Voxzogo. Stifel also increased its price target to $91, following BioMarin’s strong earnings and revenue performance, emphasizing the company’s solid execution and cost discipline. Despite competitive challenges, analysts believe BioMarin’s strategic plans and pipeline developments will continue to strengthen its market position.
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