William Blair analyst Sami Corwin downgraded BioMarin to Market Perform from Outperform following the Q3 report. The firm cites a lack of near-term catalysts and uncertainty around Voxzogo’s revenue growth potential for the downgrade. BioMarin’s current valuation adequately reflects revenue estimates for the company’s commercial portfolio, and its clinical pipeline will not be a source of significant value creation in the near-term, the analyst tells investors in a research note.