Analyst Kostas Biliouris of BMO Capital reiterated a Buy rating on BioMarin Pharmaceutical (BMRN – Research Report), retaining the price target of $115.00.
Kostas Biliouris has given his Buy rating due to a combination of factors that highlight BioMarin Pharmaceutical’s strong growth potential and strategic positioning. The company is well-placed to maintain a significant market share in the face of competition, particularly with its product Voxzogo, which is expected to see substantial growth. The management’s confidence in achieving robust operational margins by 2027, along with the anticipated growth in Voxzogo sales, underscores BioMarin’s financial strength.
Additionally, BioMarin’s strategic focus on business development opportunities and its ability to leverage its commercial infrastructure provide further growth avenues. The company’s valuation, trading at a favorable multiple of projected revenues, makes it an attractive investment. Furthermore, BioMarin’s proactive efforts to increase awareness and adoption of Voxzogo, especially in international markets, are likely to support its competitive edge and drive future revenue growth.
In another report released on March 6, Leerink Partners also reiterated a Buy rating on the stock with a $105.00 price target.
Based on the recent corporate insider activity of 60 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.
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