Piper Sandler analyst Christopher Raymond lowered the firm’s price target on BioMarin to $107 from $115 and keeps an Overweight rating on the shares following the Q4 report. While Piper sees little drama to the trajectory of the established commercial portfolio or Voxzogo, the elephant in the room remains Roctavian’s disposition, which at $2.7M/$3.5M revenue for Q423/FY23 is “a far cry” from initial FY23 guidance of $50M-$150M, the analyst tells investors in a research note.
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