BioMarin Pharmaceutical Inc. (BMRN) projects a rally with a potential upside of 54% despite a recent price target reduction. The company's acquisition of Amicus Therapeutics Inc. and its development pipeline make it an attractive investment opportunity.

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) is projected to rally, with a 54% adjusted upside potential despite a price target reduction from $97 to $85 by Bank of America Securities. The firm maintained a Buy rating and expects more cautious assumptions in the Voxzogo-franchise tail to impact its outlook. Whitney Ijem from Canaccord Genuity also maintained a Buy rating and increased the price target from $98 to $104, leading to an 88% upside potential. BioMarin develops and commercializes targeted therapies for life-threatening medical conditions and rare genetic diseases, operating in over 70 countries.