Wedbush analyst Yun Zhong reiterated a Buy rating on BioMarin Pharmaceutical today and set a price target of $94.00.
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Yun Zhong has given his Buy rating due to a combination of factors that highlight BioMarin Pharmaceutical’s potential for sustained growth. The company has reaffirmed its guidance for 2025, with total revenue projections being raised, indicating confidence in its financial outlook despite a slight miss in Voxzogo revenue. The management’s optimistic stance on maintaining a leading position in skeletal conditions, supported by a strong global presence and ongoing clinical developments, further strengthens the company’s growth prospects.
Additionally, BioMarin’s strategic initiatives, such as the planned expansion of Voxzogo’s label and the development of new therapies, are expected to drive future growth. The company’s efforts to enhance patient access and loyalty, along with its robust pipeline, position it well against emerging competition in the achondroplasia market. These factors, combined with the potential for new product launches and label expansions, underpin Yun Zhong’s positive outlook and Buy rating for BioMarin’s stock.
According to TipRanks, Zhong is an analyst with an average return of -10.1% and a 41.77% success rate. Zhong covers the Healthcare sector, focusing on stocks such as MannKind, Protagonist Therapeutics, and Rezolute.
In another report released today, Morgan Stanley also maintained a Buy rating on the stock with a $98.00 price target.