BioMarin Pharmaceutical shares are trading lower after the company reported worse-than-expected Q3 revenue results and issued FY23 guidance. Additionally, Cantor Fitzgerald and Barclays lowered their respective price targets on the stock.
Portfolio Pulse from Benzinga Newsdesk
BioMarin Pharmaceutical reported lower than expected Q3 revenue results and issued FY23 guidance. Following this, Cantor Fitzgerald and Barclays lowered their price targets on the stock, leading to a decrease in the company's share price.
November 02, 2023 | 3:26 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
BioMarin's lower than expected Q3 revenue and the subsequent lowering of price targets by Cantor Fitzgerald and Barclays have negatively impacted the company's stock price.
BioMarin's Q3 revenue fell short of expectations, which is a negative indicator of the company's financial performance. This, coupled with the lowered price targets by Cantor Fitzgerald and Barclays, has led to a decrease in investor confidence, thereby driving the stock price down.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100