BioMarin should rally ‘meaningfully’ after Ascendis data, says Piper Sandler

Piper Sandler analyst Christopher Raymond expects shares of BioMarin (BMRN) "will be up meaningfully on the open" after competitor Ascendis Pharma (ASND) reported results of the ACcomplisH trial, a Phase 2 randomized, placebo controlled trial of TransCon CNP in children age 2-10. "What we got was anything but competitive" to BioMarin’s Voxzogo, Raymond tells investors in a research note. The analyst believes Voxzogo’s growth story is intact and he keeps an Overweight rating on BioMarin with a $128 price target.