BioMarin Pharmaceutical Inc

BMRN: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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BioMarin Earnings: Voxzogo Drives Strong Q3 Results and Long-Term Outlook

Karen Andersen ,

Oct 30, 2024

We are maintaining our $83 fair value estimate for narrow-moat BioMarin following a strong third-quarter performance. The company reported a 28% increase in top-line revenue, driven primarily by 54% growth in Voxzogo's revenue and 27% increase in its enzyme therapies portfolio. In light of these results, management has updated its 2024 full-year revenue guidance to a range of $2.790 billion to $2.825 billion, indicating projected growth of 16% at the midpoint. It also reaffirmed a long-term outlook that surpasses our forecasts, projecting $4 billion in sales by 2027, compared to our estimate of $3.75 billion.

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BioMarin Pharmaceutical Inc

BioMarin Earnings: Voxzogo Drives Strong Q3 Results and Long-Term Outlook

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