Leerink Partners analyst Joseph Schwartz has reiterated their bullish stance on BMRN stock, giving a Buy rating on February 20.
Joseph Schwartz’s rating is based on BioMarin Pharmaceutical’s robust financial performance and strategic initiatives that indicate strong future growth potential. The company closed the fiscal year 2024 with sales exceeding expectations, showcasing a year-over-year growth of 16% for the fourth quarter. This solid performance, coupled with the company’s projection of a 10% increase in revenue for FY25, highlights its ability to generate consistent financial returns.
Furthermore, BioMarin’s strategic focus on enhancing shareholder value through their enzyme replacement therapy business and promising pipeline developments, such as BMN351 and BMN333, underpins the Buy rating. Management’s active engagement in business development, evidenced by numerous meetings at a competitor’s conference, suggests a proactive approach to expanding their portfolio. These factors collectively support the reiteration of an Outperform rating and a price target of $105, reflecting confidence in BioMarin’s growth trajectory.
According to TipRanks, Schwartz is a 5-star analyst with an average return of 13.4% and a 43.55% success rate. Schwartz covers the Healthcare sector, focusing on stocks such as Ultragenyx Pharmaceutical, Insmed, and PTC Therapeutics.
In another report released on February 20, Bernstein also maintained a Buy rating on the stock with a $94.00 price target.
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