BioMarin price target lowered to $102 from $103 at BofA

BofA analyst Jason Zemansky lowered the firm’s price target on BioMarin (BMRN) to $102 from $103 and keeps a Buy rating on the shares following what the firm calls “an okay 3Q print.” The company tweaked the 2027 revenue outlook, now offering a range of $3.6B-$4B versus $4B previously with the range depending on Voxzogo competition scenarios, notes the analyst, who doesn’t expect the long-term guidance update to come as an investor surprise given that management communicated plans to update last quarter and the low end of the range aligns with consensus.