In a report released yesterday, Sean Laaman from Morgan Stanley maintained a Buy rating on BioMarin Pharmaceutical, with a price target of $104.00.
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Sean Laaman has given his Buy rating due to a combination of factors that highlight BioMarin Pharmaceutical’s strong market position and growth potential. The international expansion of Voxzogo, which has shown significant revenue growth and is expected to continue expanding into new countries, is a key driver of BioMarin’s robust performance. The company’s strategic focus on establishing a solid patient base with low switch rates, especially in younger age cohorts, further strengthens its competitive position.
Additionally, BioMarin’s pipeline of promising treatments, including BMN 351 and BMN 333, presents potential catalysts for future growth. The anticipated updates on revenue guidance and the company’s ability to sustain leadership in skeletal dysplasias despite upcoming competition are also pivotal factors. These elements, combined with BioMarin’s strategic acquisitions and ongoing research developments, underpin Sean Laaman’s positive outlook and Buy rating for the stock.
Laaman covers the Healthcare sector, focusing on stocks such as Neurocrine, Jazz Pharmaceuticals, and BioMarin Pharmaceutical. According to TipRanks, Laaman has an average return of 8.7% and a 61.81% success rate on recommended stocks.
In another report released on October 14, Cantor Fitzgerald also maintained a Buy rating on the stock with a $80.00 price target.