BioMarin price target lowered to $90 from $110 at Cantor Fitzgerald

Cantor Fitzgerald analyst Olivia Brayer lowered the firm’s price target on BioMarin (BMRN) to $90 from $110 and keeps an Overweight rating on the shares following the Q3 results. The firm cites lower Voxzogo sales estimates following competitive data from Ascendis Pharma’s (ASND) TransCon in achondroplasia for the price target reduction. Cantor now models $3.1B in revenues for 2025 and $3.93 in EPS vs. its prior view of $3B and $4.03, respectively.