BioMarin Pharmaceutical (BMRN – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Mohit Bansal from Wells Fargo reiterated a Buy rating on the stock and has a $90.00 price target.
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Mohit Bansal has given his Buy rating due to a combination of factors including BioMarin Pharmaceutical’s reaffirmed confidence in achieving its 2027 topline and margin targets. The company has shown robust execution in its Enzyme Replacement Therapy (ERT) and Voxzogo segments, which are key growth areas. The ERT business reported a positive year-over-year growth, notably with Palynziq continuing its strong performance, and management expects this momentum to carry on with further label expansions.
Bansal is also optimistic about the sustained growth prospects of Voxzogo, with management expecting a significant compound annual growth rate through 2027. Additionally, upcoming data releases and strategic developments, such as the BMN 351 data expected in 2025 and longer acting CNP data later in the year, are anticipated to be pivotal. These factors collectively underpin Bansal’s positive outlook on BioMarin’s stock, despite maintaining a conservative revenue model compared to the company’s projections.
In another report released yesterday, Bernstein also maintained a Buy rating on the stock with a $94.00 price target.
BMRN’s price has also changed moderately for the past six months – from $93.840 to $68.730, which is a -26.76% drop .