Leerink Partners Maintains a Buy on BioMarin Pharmaceutical (BMRN), Retains a $105 PT

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) is one of the most profitable biotech stocks to invest in now. On July 23, analyst Joseph Schwartz of Leerink Partners reiterated a Buy rating on BioMarin Pharmaceutical Inc. (NASDAQ:BMRN), retaining the price target of $105.00.

The analyst based the rating on the company’s growth potential and strategic initiatives, stating that BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) is focused on the expansion of the use of Voxzogo for various short stature disorders.

The company is also advancing BMN351 for Duchenne muscular dystrophy, factors which the analyst considers significant growth drivers for BioMarin Pharmaceutical Inc. (NASDAQ:BMRN).

Schwartz further reasoned that BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) is making notable strides with Palynziq for the treatment of phenylketonuria, which is also expected to boost the company’s market potential.

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) develops and commercializes therapies for serious and life-threatening medical conditions and rare diseases. The company’s product pipeline includes Valoctocogene roxaparvovec, Vosoritide, and BMN 307.

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Disclosure: None. This article is originally published at Insider Monkey.