In a report released yesterday, Phil Nadeau from TD Cowen maintained a Buy rating on BioMarin Pharmaceutical (BMRN – Research Report), with a price target of $120.00.
Phil Nadeau has given his Buy rating due to a combination of factors including BioMarin Pharmaceutical’s strong financial performance and promising growth prospects. The company’s Q1 revenue of $745 million surpassed consensus expectations, driven by the robust growth of Voxzogo, which saw a 40% year-over-year increase. Additionally, BioMarin’s operational margin expanded to 36%, contributing to a significant bottom-line beat with non-GAAP EPS reaching $1.13 compared to the consensus estimate of $0.80.
BioMarin has reiterated its 2025 guidance, projecting revenue growth to $3.1-3.2 billion and non-GAAP EPS between $4.20 and $4.40, reflecting a positive outlook. The continued adoption of Voxzogo, along with the progression of BioMarin’s pipeline towards key 2025 milestones, such as the development of BMN-351 and BMN 333, further supports the Buy rating. These factors collectively indicate BioMarin’s potential for sustained growth and profitability, justifying the positive recommendation.
In another report released on April 21, Oppenheimer also reiterated a Buy rating on the stock with a $98.00 price target.
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.