12 Best Depressed Stocks to Invest in Now

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3) BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

52-week Low: $60.63

Price as of 24 January: $61.73

Number of Hedge Fund Holders: 54

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) is engaged in the development and commercialization of therapies for people having serious and life-threatening rare diseases and medical conditions. The company’s stock has been subject to the competitive landscape of the broader pharmaceutical industry and the heightened impact of global economic headwinds. Its shares saw the potential impact of Ascendis Pharma’s positive trial results on the Voxzogo franchise. To give a brief context, Voxzogo is BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)’s treatment for achondroplasia.

Despite competitive pressures, Goldman Sachs reiterated its “Buy” rating on the company’s shares, maintaining a price target of $127.00. This rating is backed by the fact that BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) seeks to strengthen its market position with its product Voxzogo. The company continues to focus on expanding Voxzogo into additional markets by 2027. Furthermore, Wedbush analyst Yun Zhong maintained a “Buy” rating on the company’s shares, setting a price target of $94.00.

Wedbush analyst stated that BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)’s healthy revenue growth and strong pipeline development support optimistic views. The company’s management continues to exhibit confidence in maintaining market leadership, mainly with Voxzogo, through expansion into new international markets and leveraging new clinical guidelines. Furthermore, its global footprint aids the strategy for continued revenue growth.

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