BioMarin assumed with an Overweight at Morgan Stanley

Morgan Stanley assumed coverage of BioMarin (BMRN) with an Overweight rating with a price target of $97, down from $105. BioMarin is trading at a 10-year low, more than adequately reflecting risk to its Voxzogo franchise, the analyst says. Morgan Stanley believes the potential opportunity in other patient populations and the company’s pipeline may be underappreciated by the Street.