TD Cowen analyst Phil Nadeau maintained a Buy rating on BioMarin Pharmaceutical today and set a price target of $120.00.
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Phil Nadeau has given his Buy rating due to a combination of factors, primarily focusing on BioMarin Pharmaceutical’s revenue projections and strategic adjustments. The company has indicated that revenue from its key products, Voxzogo and the base enzyme business, is expected to be more heavily weighted towards the fourth quarter. This insight has led to minor adjustments in revenue estimates, shifting some expectations from the third to the fourth quarter, while maintaining the overall 2025 revenue and earnings per share projections.
These adjustments reflect a refined understanding of the company’s ordering dynamics and suggest confidence in BioMarin’s ability to meet its financial targets. Despite the changes in quarterly projections, the stability in the overall annual estimates underscores a positive outlook for the company’s financial health. This strategic foresight and the potential for strong year-end performance contribute to the Buy rating, suggesting that BioMarin is well-positioned for growth and value creation in the coming years.
In another report released on October 19, Morgan Stanley also maintained a Buy rating on the stock with a $104.00 price target.