BioMarin price target raised to $118 from $114 at Stifel

Stifel analyst Paul Matteis raised the firm’s price target on BioMarin to $118 from $114 and keeps a Buy rating on the shares. Q4 sales were generally in-line with consensus, but "more broadly the quarter was marked by another nice Voxzogo beat" and "encouraging" 2023 guidance that includes strong Voxzogo projections and about $100-$200M sales guided for Roctavian, the analyst tells investors. Management’s decision to guide for Roctavian given the ongoing regulatory review is "notable, and bullish," since the Roctavian guidance includes a meaningful U.S. contribution ahead of the PDUFA date, the firm added.