Phil Nadeau, an analyst from TD Cowen, maintained the Buy rating on BioMarin Pharmaceutical. The associated price target remains the same with $120.00.
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Phil Nadeau has given his Buy rating due to a combination of factors including BioMarin Pharmaceutical’s strategic adjustments and future potential. Despite a slight miss in Q3 revenue expectations, with reported revenues of $776 million compared to the consensus of $787 million, the company has shown resilience by increasing the lower end of its 2025 revenue guidance. This adjustment reflects confidence in their commercial execution and cost management strategies, which are expected to drive future outperformance.
Furthermore, BioMarin’s management has maintained its full-year guidance for Voxzogo and even raised the midpoint of its total revenue guidance. Although there are concerns about Voxzogo’s competition affecting long-term revenue projections, the company’s proactive approach in addressing these challenges and its ability to add patients across various demographics and markets contribute to the positive outlook. These elements combined suggest a promising growth trajectory, justifying the Buy rating.
Nadeau covers the Healthcare sector, focusing on stocks such as BioMarin Pharmaceutical, Kura Oncology, and Biogen. According to TipRanks, Nadeau has an average return of 6.9% and a 46.36% success rate on recommended stocks.
In another report released yesterday, Barclays also maintained a Buy rating on the stock with a $86.00 price target.