BioMarin Pharmaceutical Inc. (BMRN) PT Lowered to $97 at BMO Capital

BMO Capital analyst David Lebowitz lowered the price target on BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) to $97.00 (from $98.00) while maintaining a Outperform rating.

The analyst commented: "Noonan Exit Sharpens Voxzogo Focus on HCH/ISS With Limited Impact; BioMarin discontinued development of Voxzogo in Noonan syndrome, sharpening its focus on larger expansion opportunities in HCH and ISS. The decision to discontinue the Phase 2 Noonan study was unrelated to the safety or efficacy profile of Voxzogo. Relatively small addressable population of NS provides modest peak-sales opportunity, and impact from the discontinuation is therefore limited. We continue to view BMRN shares as attractively valued given its durable rare-disease franchises, Voxzogo-led growth, expanding commercial portfolio, pipeline optionality, and potential for continued margin expansion."

You May Also Be Interested In

• Paramount Weighs Tapping Musk For Equity Investment - Semafor
• Canaccord Reiterates Buy Rating on Artemis Gold Inc (ARTG:CN) (ARGTF)
• Scotiabank Reiterates Sector Outperform Rating on Ero Copper Corp. (ERO:CN) (ERO)