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UPDATE: Stifel Downgrades BioMarin Pharmaceutical on Appropriate Risk/Reward, Expected Slower Data Flow


In a report published Wednesday, Stifel analyst Stephen Willey downgraded the rating on BioMarin Pharmaceutical (NASDAQ: BMRN) from Buy to Hold, and removed the $70.00 price target.

In the report, Stifel noted, “We are downgrading shares of BioMarin from Buy to Hold – despite yesterday's largely positive R&D Day event highlighting what looks to be a sustainable pipeline of opportunities for years to come. We believe 1) risk/reward is appropriately priced in ahead of upcoming Vimizim regulatory events; 2) data flow should slow considerably post-ESMO; and 3) ascribing meaningful value to programs for which little/no data exists is required to get incrementally more positive on valuation at these levels.”

BioMarin Pharmaceutical closed on Tuesday at $75.96.

Latest Ratings for BMRN

Mar 2021Canaccord GenuityMaintainsBuy
Mar 2021Evercore ISI GroupUpgradesIn-LineOutperform
Nov 2020SVB LeerinkReiteratesOutperform

View More Analyst Ratings for BMRN
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Posted-In: Stephen Willey StifelAnalyst Color Downgrades Analyst Ratings

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OTRKRBC CapitalDowngrades32.0
EVHCanaccord GenuityMaintains24.0
BMRNCanaccord GenuityMaintains91.0
ONTFCanaccord GenuityInitiates Coverage On65.0
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