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On Thursday, Citi analysts, led by David Lebowitz, reaffirmed a Neutral rating on shares of BioMarin Pharmaceutical (TADAWUL:2070) Inc. (NASDAQ:BMRN), maintaining the price target at $82.00. According to InvestingPro data, analyst targets for the stock range from $65 to $126, with seven analysts recently revising their earnings expectations upward for the upcoming period. The company’s stock currently trades at $71.60, and InvestingPro analysis suggests the stock is currently undervalued. The commentary from the analysts came as BioMarin announced its intention to present new data for two of its drugs at the upcoming American College of Medical (TASE:BLWV) Genetics and Genomics (ACMG) Annual Clinical Genetics Meeting in Los Angeles.
The company is set to showcase findings regarding Voxzogo, a treatment for infants under three years old with achondroplasia. The data originates from real-world clinical practice in Japan, emphasizing treatment adherence and a favorable safety profile. Additionally, BioMarin will present real-world data from a post-marketing surveillance observational trial for Palynziq, which assesses the drug’s effects on adults with phenylketonuria (PKU). The company’s strong financial position, with a gross profit margin of nearly 80% and robust revenue growth of 18% over the last twelve months, provides solid backing for its ongoing research and development efforts.
BioMarin’s management has underscored the data as a significant indicator of the strength of both assets. These drugs are currently undergoing Phase 3 pivotal trials, with further updates anticipated later in the year.
The forthcoming presentation at the ACMG meeting is an opportunity for BioMarin to share progress and insights from its ongoing research and development efforts. The company’s focus on providing new data and its implications on treatment adherence and safety profiles for both Voxzogo and Palynziq will be a point of interest for medical professionals and stakeholders in the genetics community.
Investors and industry observers will be looking forward to the updates from the Phase 3 trials later this year, which could potentially impact BioMarin’s stock performance and market position in the pharmaceutical sector. As of now, with Citi’s reaffirmed Neutral rating and price target, the market’s outlook on BioMarin remains cautiously optimistic pending further developments. InvestingPro analysis reveals the company maintains excellent financial health with a current ratio of 5.33 and operates with moderate debt levels. For deeper insights into BioMarin’s financial metrics and growth potential, including additional ProTips and comprehensive analysis, check out the full Pro Research Report available on InvestingPro.
In other recent news, BioMarin Pharmaceutical Inc. reported strong financial results, with fourth-quarter 2024 revenues reaching $747 million, surpassing the consensus estimate of $712 million. Analysts from Oppenheimer upgraded BioMarin’s stock from Perform to Outperform, setting a price target of $98.00, citing the company’s robust performance and promising financial guidance for 2025. Cantor Fitzgerald maintained its Overweight rating with a $90.00 price target, highlighting the company’s projected revenue growth of 9-12% year-over-year, which is expected to exceed the consensus estimate. Additionally, BMO Capital Markets reiterated its Outperform rating and $115.00 price target, emphasizing BioMarin’s strong quarterly performance and growth potential. The firm noted the significant contribution of BioMarin’s product Voxzogo and pointed to potential positive developments in 2025, such as data from ongoing trials and possible business development announcements. In governance news, BioMarin announced the appointment of Timothy P. Walbert, former CEO of Horizon Therapeutics (NASDAQ:HZNP), to its Board of Directors. Walbert’s extensive experience in the pharmaceutical industry is expected to support BioMarin’s strategic vision and operational expertise. These recent developments reflect BioMarin’s ongoing efforts to strengthen its market position and financial outlook.
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