On Oct 30, major Wall Street analysts update their ratings for $Biomarin Pharmaceutical (BMRN.US)$, with price targets ranging from $78 to $122.
Morgan Stanley analyst Vikram Purohit maintains with a buy rating, and maintains the target price at $112.
J.P. Morgan analyst Jessica Fye maintains with a buy rating, and adjusts the target price from $120 to $109.
Citi analyst David Lebowitz maintains with a hold rating, and adjusts the target price from $93 to $81.
Barclays analyst Gena Wang maintains with a buy rating, and maintains the target price at $86.
UBS analyst Eliana Merle maintains with a buy rating, and adjusts the target price from $119 to $106.
Furthermore, according to the comprehensive report, the opinions of $Biomarin Pharmaceutical (BMRN.US)$'s main analysts recently are as follows:
BioMarin experienced a robust quarter, with a slight increase in its guidance for both revenue and earnings. Analysts believe that the value of the company's enzyme replacement therapy business may match or exceed the current share price. Additionally, the anticipation of BMN333 entering clinical trials in early 2025 is seen as potentially pivotal for BioMarin, not only in maintaining its position in the achondroplasia market but also expanding into other indications where Voxzogo is under investigation.
BioMarin's Q3 financial outcomes surpassed expectations on both the top and bottom lines, and there was a slight increase in the forecast for fiscal 2024 across all principal metrics. Although Voxzogo's performance fell short of projections, this was balanced by stronger-than-anticipated results from various other offerings within the company's enzyme replacement therapy portfolio.
The firm recognizes an appealing opportunity for investment at the present share price, highlighting BioMarin's solid foundational business and the prospects for significant operating margin growth in the coming years.
The latest financials and pipeline updates from BioMarin for the third quarter of 2024 were largely as anticipated. It's positive to note a slight increase in the guidance for 2024. However, the perceived deceleration in growth for Voxzogo, which is considered crucial to BioMarin's success, may not meet investor expectations.
Here are the latest investment ratings and price targets for $Biomarin Pharmaceutical (BMRN.US)$ from 15 analysts:
Note:
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