BioMarin price target raised to $200, added to ‘US 1 List’ at BofA

BofA analyst Geoff Meacham raised the firm’s price target on BioMarin to $200 from $120 and keeps a Buy rating on the shares, telling investors that based on his discussions key opinion leading physicians that he has "high conviction" in initial Roctavian adoption, particularly in the U.S. Voxzogo launch revenues have beaten every quarter and he suspects Voxzogo’s execution will begin to quell concerns over the opportunity, Meacham added. In addition, the firm is adding BioMarin to its "US 1 List," intended to represent a collection of its best investment ideas that are drawn from the universe of Buy-rated, U.S.-listed stocks, while removing Pfizer (PFE) and PayPal (PYPL) from the "US 1" list.