Vertex, BioMarin initiated at overweight at Cantor Fitzgerald on growth prospects
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Cantor Fitzgerald has initiated biotechs Vertex Pharmaceuticals (NASDAQ:VRTX) and BioMarin (NASDAQ:BMRN) Pharmaceutical with overweight ratings on growth prospects.
The firm has a $365 price target for Vertex (VRTX) (~26% upside based on Tuesday's close) and a $110 price target for BioMarin (BMRN) (~25% upside).
Of Vertex (VRTX), analyst Olivia Brayer said that its core cystic fibrosis business could outperform for another two to three years. She added that the company's mid to late-stage pipeline is diversified and can support growth from 2025-2030.
Among biotechs, Brayer noted, Vertex (VRTX) has a "best-in-class growth profile" and the cystic fibrosis franchise should beat 2022 estimates.
Brayer also speaks highly of BioMarin (BMRN), saying "it has the best growth profile of any profitable U.S. Biotech company...and there's a clear line-of-sight to a [profit and loss] transformation in 2023+." 
She noted the company is at a turning point as it won approval last year of Voxzogo (vosorotide) for achondroplasia and Roctavian (valoctocogene roxaparvovec) for hemophilia A is expected to get a U.S. FDA nod in 2023. The latter received the backing of a European Medicines Agency advisory panel in June. 
Brayed added that combined peak sales of Voxzogo and Roctavian combined could exceed $3B.
Check out why Seeking Alpha contributor Denis Buivolov is also bullish on Biomarin (BMRN).