Canaccord analyst Whitney Ijem initiated coverage of BioMarin with a Hold rating and $119 price target. BioMarin has reached its key profitability inflection point and Ijem has "little doubt" that management will successfully control costs while at the same time growing the top line. However, looking towards 2023 catalysts, the biggest focus will be the regulatory decision for BioMarin’s hemophilia A gene therapy Roctavian and Ijem thinks risk is skewed to the downside as she already models in approval and launch this year.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on BMRN:
- BioMarin price target raised to $83 from $74 at Wedbush
- BioMarin price target raised to $125 from $120 at Guggenheim
- BioMarin announces data from follow up from Phase 3 GENEr8-1 study of ROCTAVIAN
- BioMarin price target raised to $200, added to ‘US 1 List’ at BofA
- BioMarin’s application for Voxzogo in achondroplasia validated by EMA