Analyst Kostas Biliouris of BMO Capital reiterated a Buy rating on BioMarin Pharmaceutical, retaining the price target of $115.00.
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Kostas Biliouris has given his Buy rating due to a combination of factors that highlight BioMarin Pharmaceutical’s promising growth prospects. One of the key drivers is the potential expansion of Palynziq into the adolescent market, which could significantly increase its market share. Palynziq has shown a strong efficacy and safety profile in adolescents, with notable reductions in blood Phe levels and improved tolerability compared to adults.
Furthermore, BioMarin’s established presence in the PKU market and the lack of a Phe-restricted diet requirement for Palynziq provide a competitive edge over new oral treatments. The anticipated label expansion and regulatory submissions are expected to drive revenue growth, reinforcing BioMarin’s leadership position. Additionally, the company’s robust base business and the potential of other products like Voxzogo contribute to a positive outlook, making BioMarin an attractive investment opportunity.
In another report released today, Wedbush also maintained a Buy rating on the stock with a $94.00 price target.