Truist lowered the firm’s price target on BioMarin (BMRN) to $80 from $90 and keeps a Buy rating on the shares. The firm cites the company’s Q3 revenue miss as well as its updated margin and EPS outlook driven by one-off IPR&D charge related to Inozyme acquisition which completed in July, the analyst tells investors in a research note. BioMarin is also no longer sticking with FY27 guidance given forthcoming competition from navepegritide and infigratinib, the firm added.
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