Bernstein initiated coverage of BioMarin with an Underperform rating and $81 price target. The analyst believes Roctavian will be approved and drive some short-term performance of the stock, but says it will significantly underperform commercial expectations. After survey of 20 hemophilia specialists, the firm conclude the consensus estimate implication of 40% peak penetration in severe hemophilia A patients in the U.S. is "highly unlikely." It models peak penetration of 25%.
Published first on TheFly
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