Morgan Stanley analyst Sean Laaman lowered the firm’s price target on BioMarin (BMRN) to $98 from $104 and keeps an Overweight rating on the shares. Management rescinded FY27 guidance, previously set at $4B, due to potential competition from Ascendis TransCon CNP, aligning more with consensus of $3.65B, notes the analyst, who believes a competitor to Voxzogo must launch before investors become constructive on the shares. However, the firm argues that the stock “appears a compelling value” given Street forecasts and the company’s balance sheet capacity.
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 – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BMRN:
- BioMarin price target lowered to $102 from $103 at BofA
- BioMarin price target lowered to $55 from $60 at H.C. Wainwright
- BioMarin Pharmaceutical: Strong Growth Potential Amidst Competitive Challenges
- BioMarin price target lowered to $70 from $90 at Wells Fargo
- BioMarin price target lowered to $80 from $86 at Barclays