BioMarin Pharmaceutical (BMRN) has received a new Hold rating, initiated by William Blair analyst, Sami Corwin.
Sami Corwin has given his Hold rating due to a combination of factors surrounding BioMarin Pharmaceutical’s recent performance and future outlook. The company reported a strong revenue increase in the first quarter, surpassing both the firm’s and consensus estimates, primarily driven by the uptake of Voxzogo in young children in the U.S. However, despite this positive revenue performance, the company’s reiterated guidance for 2025 suggests a cautious outlook, with expectations of more substantial revenue in the latter half of the year due to global ordering dynamics.
Additionally, BioMarin’s management has acknowledged the potential impact of U.S. tariffs on their operations, although their current exposure to countries like China, Mexico, and Canada is minimal. The company is actively evaluating strategies to mitigate any adverse effects from potential future tariffs, which adds a layer of uncertainty to their financial projections. These factors combined, including the need to manage potential risks and the current valuation, have led Sami Corwin to maintain a Hold rating on BioMarin’s stock.
Based on the recent corporate insider activity of 55 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BMRN in relation to earlier this year.