As previously reported, Raymond James downgraded BioMarin to Market Perform from Outperform Analyst Laura Chico said BioMarin lacks near-term catalysts which makes it more vulnerable in a "risk off" environment. The analyst notes key valorx events do not manifest until mid-2019, and vosoritde later in the year.
These names in the biotech sector are seeing a substantial increase in search activity today, as determined by InvestingChannel. They include: Heron Therapeutics (HRTX),... To see the rest of the story go to thefly.com. See Story Here
Canaccord analyst Whitney Ijem lowered the firm's price target on BioMarin to $89 from $91 and keeps a Hold rating on the shares. The firm noted investor focus remains on the bigger announcements/greater clarity that is expected at the company's September investor day rahter than the day's headline surrounding Roctavian struggles and the company's trimmed pipeline expenses.
Scotiabank raised the firm's price target on BioMarin to $85 from $83 and keeps a Sector Perform rating on the shares following model adjustments. While the company's enzyme business remains stable, in-line Voxzogo results and a struggling Roctavian franchise has led the firm to maintain its rating on the stock.