BioMarin price target raised to $113 from $109 at UBS

UBS analyst Eliana Merle raised the firm’s price target on BioMarin (BMRN) to $113 from $109 and keeps a Buy rating on the shares. BioMarin reported a strong quarter, and Voxzogo still has ample room to grow from here, both in terms of greater penetration of the achondroplasia market and in expansion indications longer-term, the analyst tells investors in a research note. The firm thinks the opportunity for Voxzogo in indications beyond achondroplasia remains significantly underappreciated, and could be a $5B+ opportunity.