BMO Capital Reiterates a Buy on BioMarin Pharmaceutical (BMRN)

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) is one of the best affordable biotech stocks to invest in now. On September 8, BMO Capital analyst Kostas Biliouris reiterated a Buy rating on BioMarin Pharmaceutical Inc. (NASDAQ:BMRN), retaining a price target of $115.00.

The analyst told investors that one of the key reasons supporting the optimistic rating is the potential expansion of Palynziq into the adolescent market, which may considerably boost its market share.

Palynziq has exhibited a strong efficacy and safety profile in adolescents, along with improved tolerability and considerable reductions in blood Phe levels compared to adults, according to the analyst.

Biliouris added that BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has a robust base business, and factors such as the potential of other products like Voxzogo support an optimistic outlook for the stock.

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.