Impact on BioMarin's Sentiment: Voxzogo's Triumph Clouded by Uncertainty
Portfolio Pulse from Vandana Singh
Raymond James initiated coverage on BioMarin Pharmaceuticals Inc (BMRN) with a Market Perform rating, citing a lack of near-term growth drivers. The analysts highlighted the launch of Roctavian and Voxzogo as key growth drivers, but expressed concerns about Voxzogo's long-term outlook due to advancing competitive treatments from BridgeBio Pharma Inc (BBIO) and Ascendis Pharma A/S (ASND). BioMarin's shares are expected to remain under pressure until BBIO reports 12-month data.
September 28, 2023 | 6:29 pm
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POSITIVE IMPACT
Ascendis Pharma's competitive treatment is advancing in the clinic, which could impact BioMarin's long-term growth.
The analysts noted that ASND's competitive treatment is advancing in the clinic. This could potentially increase ASND's stock price as it could gain market share from BioMarin.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
BridgeBio Pharma's competitive treatment is advancing in the clinic, which could put pressure on BioMarin's shares until BBIO reports 12-month data.
The analysts noted that BBIO's competitive treatment is advancing in the clinic. This could potentially increase BBIO's stock price as it could gain market share from BioMarin.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
BioMarin's shares are expected to remain under pressure due to concerns about the long-term outlook of Voxzogo and competition from BBIO and ASND.
The analysts from Raymond James expressed concerns about the long-term outlook of Voxzogo, one of BioMarin's key growth drivers, due to advancing competitive treatments. This could negatively impact BioMarin's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100