Bernstein upgraded BioMarin to Market Perform from Underperform with an unchanged price target of $82. The firm’s short thesis was that Roctavian numbers needed to come down, and this has largely played out, the analyst tells investors in a research note. Bernstein believes there is still some downside to Roctavian consensus, but says the buy-side is largely in the same place as it is, making consensus sales estimates “now reasonable.”
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