On Oct 31, 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.
BofA Securities analyst Jason Zemansky maintains with a buy rating.
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.
Furthermore, according to the comprehensive report, the opinions of $Biomarin Pharmaceutical (BMRN.US)$'s main analysts recently are as follows:
BioMarin experienced a strong quarter, with a slight increase in both top and bottom line forecasts. Analysts believe that the value of the company's enzyme replacement therapy business is at least equal to the current share price. Furthermore, the anticipation that BMN333, scheduled to enter clinical trials in early 2025, may notably contribute to the company's value by maintaining its position in achondroplasia and potentially expanding to additional indications where Voxzogo is undergoing studies.
BioMarin's third-quarter financial results surpassed expectations both in terms of revenue and earnings, with a slight increase in the forecast for fiscal 2024 across all key indicators. Despite Voxzogo's performance falling short of projections, the shortfall was compensated by stronger-than-anticipated outcomes from a number of products within the company's enzyme replacement therapy segment.
The firm recognizes an appealing entry point for BioMarin's shares, highlighting the company's solid foundational business and the prospects for significant operating margin growth in the coming years.
BioMarin's third-quarter 2024 financials and pipeline updates were generally aligned with market forecasts. The slight increase in the company's 2024 guidance is positive; however, the perceived deceleration in Voxzogo's growth, which is seen as a pivotal element for BioMarin's success, may not meet investor expectations.
Here are the latest investment ratings and price targets for $Biomarin Pharmaceutical (BMRN.US)$ from 16 analysts:
Note:
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