BioMarin stock price target lowered to $55 at H.C. Wainwright on Voxzogo competition

Investing.com - H.C. Wainwright lowered its price target on BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) to $55.00 from $60.00 on Tuesday while maintaining a Neutral rating on the stock. According to InvestingPro data, the company maintains strong fundamentals with a perfect Piotroski Score of 9 and healthy financials, including a robust current ratio of 5.56.

The firm cited increasing competitive pressures for BioMarin’s Voxzogo (vosoritide) treatment, which is facing its "most competitive situation since launch" despite the company delivering a "clean" third-quarter 2025 report and reiterating its full-year guidance. The company has demonstrated strong revenue growth of 18.36% over the last twelve months, suggesting resilient market performance despite competitive challenges.

H.C. Wainwright pointed to several upcoming competitive threats, including Ascendis Pharma A/S’s TransCon CNP, a weekly injectable with an FDA decision expected on November 30, and BridgeBio’s oral pan-FGFR infigratinib, which will report data in the first half of 2026.

Additional competition is coming from Tyra’s oral FGFR3i TYRA-300, which is advancing toward proof of concept, further challenging Voxzogo’s first-mover advantage in the market.

The firm noted that while BioMarin’s fundamentals remain solid, "incremental patient growth no longer drives sentiment" as investors are now focused on whether the growth franchise can maintain market share once oral treatment options become available. InvestingPro analysis suggests the stock is currently undervalued, with additional insights available in the comprehensive Pro Research Report, which offers deep-dive analysis of BMRN and 1,400+ other US stocks.

In other recent news, BioMarin Pharmaceutical Inc. reported its third-quarter 2025 earnings, which fell short of analyst expectations. The company posted an earnings per share (EPS) of $0.12, compared to a forecast of $0.08, resulting in a negative surprise of 250%. Revenue for the quarter was $776 million, slightly below the anticipated $782.3 million, marking a revenue surprise of -0.81%. Additionally, BioMarin adjusted its 2027 revenue guidance, shifting from a specific target of $4 billion to a range between $3.65 billion and $4 billion, excluding Roctavian. This revision led Stifel to lower its price target for BioMarin to $73, although the firm maintained its Buy rating. Meanwhile, Wolfe Research reiterated its Outperform rating on BioMarin, maintaining a price target of $95. The research firm highlighted competitive uncertainties affecting BioMarin’s Voxzogo product due to potential market pressure from Ascendis Pharma’s TransCon CNP and BridgeBio’s infigratinib. These developments reflect the dynamic landscape BioMarin is navigating in its market segment.

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