Wedbush analyst Yun Zhong has maintained their bullish stance on BMRN stock, giving a Buy rating on May 12.
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Yun Zhong has given his Buy rating due to a combination of factors that highlight BioMarin Pharmaceutical’s strategic initiatives and growth potential. The acquisition of Inozyme’s INZ-701 is seen as a strategic fit, complementing BioMarin’s existing enzyme therapy portfolio. The management’s guidance suggests a significant market opportunity for INZ-701, with expectations of a peak market potential of $400-600 million by the mid-2030s, primarily driven by adult patients outside the U.S.
Furthermore, the ongoing Phase 3 pivotal study of INZ-701 in pediatric patients with ENPP1 deficiency is progressing well, with topline data expected by the first quarter of 2026. BioMarin anticipates regulatory approval in 2027, which could further bolster its market position. The company’s strategy to continue expanding its enzyme therapy portfolio, coupled with efforts to identify new patients and enhance patient compliance, supports a high single-digit compound annual growth rate through 2034. These strategic moves and growth prospects underpin Yun Zhong’s positive outlook on BioMarin’s stock.
In another report released on May 12, Barclays also maintained a Buy rating on the stock with a $86.00 price target.
Based on the recent corporate insider activity of 49 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.