BMRN - Embedded Expectations Analysis - 2019 12 05
BioMarin Pharmaceutical Inc. (BMRN:USA) currently trades above book value relative to UAFRS-based (Uniform) Assets, with a 2.2x Uniform P/B. At these levels, markets have somewhat bullish expectations for the firm, but management may be concerned about FDA approval and revenue.Specifically, management may be concerned about the timing of receiving approval for valrox and vosoritide, and they may lack confidence in their ability to sustain quarterly revenue improvements. Furthermore, they may be concerned about the feasibility of their Phase III trials for vosoritide.
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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