Baird lowered the firm’s price target on BioMarin (BMRN) to $65 from $72 and keeps a Neutral rating on the shares. The firm said they announced 3Q24 financials and pipeline updates which were generally in line with expectations. While it was encouraging to see 2024 guidance tick slightly higher, they anticipate the apparent slowing of growth in Voxzogo, which Baird continues to view as a “make or break” franchise for the BioMarin story, could disappoint investors.
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Read More on BMRN:
- BioMarin price target lowered to $81 from $93 at Citi
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- William Blair downgrades BioMarin to Market Perform on lack of catalysts
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