BioMarin's Strong 2Q and Two Upcoming Launches Support Our $123 Fair Value Estimate
BioMarin reported strong second-quarter results, and we remain bullish on growth potential of currently marketed rare disease products and the significant value of the firm's large late-stage pipeline, which supports its narrow moat and positive moat trend. We're maintaining our $123 per share fair value estimate, and shares remain undervalued.BioMarin saw 20% top-line growth and a turn to a non-GAAP profit of $16 million in the second quarter, as Vimizim sales nearly doubled to $107 million a...
BioMarin Pharmaceutical is a biotechnology company that develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. The company's commercial products are Aldurazyme (laronidase) for Mucopolysaccharidosis I; Brineura (cerliponase alfa) for the treatment of late infantile neuronal ceroid lipofuscinosis type 2; Kuvan (sapropterin dihydrochloride) for the treatment of phenylketonuria; Naglazyme (galsulfase) the treatment of Mucopolysaccharidosis VI ; Palynziq (pegvaliase-pqpz) for adult patients with phenylketonuria; and Vimizim (elosulfase alpha) for the treatment of Mucopolysaccharidosis IV Type A.
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