Biomarin Pharmaceutical (BMRN) shares plummeted 5.01% during intraday trading on Tuesday, reflecting negative market sentiment following the company's revised financial guidance and analyst downgrades.

The biopharmaceutical company lowered its non-GAAP earnings per share outlook for fiscal 2026 to $4.85 to $5.05, citing integration-related costs and higher interest expenses associated with its acquisition of Amicus Therapeutics. While BioMarin raised its revenue guidance for the year, the reduced profit forecast appears to have weighed on investor confidence.

Analyst price target cuts further contributed to the downward pressure. Morgan Stanley trimmed its price target on BioMarin to $119 from $120, while Bernstein made a more significant reduction, cutting its target to $82 from $94. The company is entering what Morgan Stanley described as a "transition year," with earnings expected to be weighted toward the second half of 2026.