3 Stocks That Have Lost Their Appeal
Our analysts are less enthusiastic about these stocks today.
Early in July, Morningstar's equity analysts updated their list of high-conviction picks. Three of the stocks cut from the list were BioMarin Pharmaceutical BMRN, Caterpillar CAT, and Intercept ICPT.
We removed BioMarin from the list because of share appreciation. BioMarin's orphan-drug portfolio and strong late-stage pipeline continue to support a narrow moat, but we think the market has recognized the full potential of the firm's late-stage pipeline in hemophilia and achondroplasia, with two potential drugs launching by 2021.
Morningstar does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.