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Goldman Sachs shares its top genome stock ideas, including BioMarin

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Gene therapy stocks are a huge opportunity for growth-oriented investors, according to Goldman Sachs.

The firm is optimistic about this new innovative area of biotechnology, where scientists create disease treatments by editing or replacing human genes.

"We believe investors underappreciate the potential for genome medicine to not only address rare diseases with no existing or limited treatments but also the much larger markets for common diseases," analyst Salveen Richter wrote in a note to clients entitled "The Genome Revolution" Tuesday. "We continue to see upside for the best positioned companies based on the combination of catalysts, rising TAMs [total addressable markets] and M&A potential."

Richter estimates the market size for gene therapies could be as large as $4.8 trillion as "genes are the foundations of all biological activity."

Here are three buy-rated stocks recommended by Goldman Sachs, along with the firm's current price targets.