Morgan Stanley analyst Matthew Harrison said BioMarin's 3-year data update reported by BioMarin this morning support the slowing of factor level declines with Valrox. The separately reported Phase 3 data support an accelerated filing for valoctocogene roxaparvovec for adults with severe hemophilia A, added Harrison, who thinks the stock should be "up significantly" following the "upside surprise" that today's reports represent. The analyst, who expects BioMarin to trade to "at least $100+" following the news, has an Overweight rating and $120 price target on the stock.

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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.