BioMarin Pharmaceutical Inc. (BMRN) Releases Paradigm Changing Data - Goldman Sachs

Goldman Sachs analyst Salveen Richter reiterated a Buy rating and $163.00 price target on BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) after the company reported positive Year 3 Ph1/2 (n=6) topline results for its gene therapy valoctogene raxoparvovec (valrox) in hemophilia A.

The analyst stated "in the context of the annualized bleeding rate (ABR) at the high dose of 6e13 vg/kg - the median rate of 0 (mean rate of 0.7) is in line with Year 2 - and alongside a 96% reduction in mean FVIII use, we see the data as paradigm-changing in the treatment of hemophilia A. The mean (key focus)/median factor VIII (FVIII) activity levels (measured per one-stage assay) at Year 3 post infusion were above/achieved the bar of 30% (link) - at 52.3%/29.8% (vs. 59%/45.7% at Year 2) - suggesting a plateau in levels".

For an analyst ratings summary and ratings history on BioMarin Pharmaceutical Inc. click here. For more ratings news on BioMarin Pharmaceutical Inc. click here.

Shares of BioMarin Pharmaceutical Inc. closed at $87.80 yesterday.

You May Also Be Interested In

• BioMarin Pharmaceutical Inc. (BMRN) PT Raised to $114 at Canaccord
• UBS Reiterates Buy Rating on HF Sinclair (DINO)
• JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery