Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

Biomarin Pharmaceutical / Equity Bottom-Up

<ul><li>BioMarin Pharmaceutical Inc. reported strong financial results for Q1 2024, while implementing significant advances as part of the company's new corporate vision and strategy.</li><li>According to the firm, this is done in the interest of positively influencing patients' lives and generating value for shareholders, with several strategic initiatives currently underway.</li><li>Based on the company's R&D portfolio assessment, three assets were chosen to be accelerated based on their potential to transform patients and shareholder value.</li></ul>

BioMarin Pharmaceutical Inc. reported strong financial results for Q1 2024, while implementing significant advances as part of the company's new corporate vision and strategy.According to the firm, this is done in the interest of positively influencing patients' lives and generating value for shareholders, with several strategic initiatives currently underway.Based on the company's R&D portfolio assessment, three assets were chosen to be accelerated based on their potential to transform patients and shareholder value.

BioMarin Pharmaceutical Inc.: What Is Their Expected Revenue Growth After Ther Efforts Towards Streamlining Expenditure? - Major Drivers

<ul><li>BioMarin Pharmaceutical recorded a 20% revenue growth in the fourth quarter of 2023 compared to Q4 of 2022.</li><li>The company gained total revenue growth of 15% for the whole of 2023 versus the prior year.</li><li>Non-GAAP earnings per share rose by 48% in Q4 2023, representing a 36% year-over year increase.</li></ul>

BioMarin Pharmaceutical recorded a 20% revenue growth in the fourth quarter of 2023 compared to Q4 of 2022.The company gained total revenue growth of 15% for the whole of 2023 versus the prior year.Non-GAAP earnings per share rose by 48% in Q4 2023, representing a 36% year-over year increase.

BioMarin Corporation: Will Its Strategic Portfolio Review Work? - Major Drivers

<ul><li>BioMarin Pharmaceutical Inc. delivered a mixed set of results for the previous quarter, with revenues well below analyst expectations but managed earnings beat.</li><li>The company celebrates a robust 15% total revenue growth in the third quarter, propelled by the success of Voxzogo, slated to become the company's inaugural blockbuster product.</li><li>In this report, we have carried out a fundamental analysis of the historical financial statements of the company.</li></ul>

BioMarin Pharmaceutical Inc. delivered a mixed set of results for the previous quarter, with revenues well below analyst expectations but managed earnings beat.The company celebrates a robust 15% total revenue growth in the third quarter, propelled by the success of Voxzogo, slated to become the company's inaugural blockbuster product.In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

BioMarin Pharmaceutical Inc.: Voxzogo Supply Constraints & Commercial Growth As A Growth Catalyst! - Key Drivers

<ul><li>BioMarin Pharmaceutical delivered an all-around beat in the most recent quarterly result.</li><li>In the quarter, revenues showed 13% year-over-year growth and 16% growth, excluding KUVAN.</li><li>BioMarin is on track to meet its 2023 goals of double-digit revenue growth and considerable operating leverage with Q2 total revenues of $595 million, including $113 million in Voxzogo revenues.</li></ul>

BioMarin Pharmaceutical delivered an all-around beat in the most recent quarterly result.In the quarter, revenues showed 13% year-over-year growth and 16% growth, excluding KUVAN.BioMarin is on track to meet its 2023 goals of double-digit revenue growth and considerable operating leverage with Q2 total revenues of $595 million, including $113 million in Voxzogo revenues.

BioMarin Pharmaceutical Inc.: What Are The Biggest Catalysts For Its Future Growth? -  Financial Forecasts

Global Healthcare Analyst

Tina Banerjee

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/bristol-myers-squibb-co" target="_blank" data-smartkarma-citation="entities:1133:1" rel="noopener">Bristol Myers Squibb Co (BMY US)</a> is acquiring <a href="https://www.smartkarma.com/entities/karuna-therapeutics-inc" target="_blank" data-smartkarma-citation="entities:28720:1" rel="noopener">Karuna Therapeutics Inc (KRTX US)</a> for $330/share in cash for equity value of ~$14B. The transaction is expected to close in 1H24. </li>
<li>Karuna’s lead asset, KarXT has FDA action date of September 26, 2024 for the treatment of schizophrenia in adults. KarXT has peak annual sales potential of $6–7B.</li>
<li>Considering strong clinical efficacy and favorable risk profile of KarXT, the deal seems to be fairly valued. Current market price of Karuna shares of $318.41 represents absolute spread of ~3.6%.</li>
</ul>



Bristol Myers Squibb Co (BMY US) is acquiring Karuna Therapeutics Inc (KRTX US) for $330/share in cash for equity value of ~$14B. The transaction is expected to close in 1H24. 
Karuna’s lead asset, KarXT has FDA action date of September 26, 2024 for the treatment of schizophrenia in adults. KarXT has peak annual sales potential of $6–7B.
Considering strong clinical efficacy and favorable risk profile of KarXT, the deal seems to be fairly valued. Current market price of Karuna shares of $318.41 represents absolute spread of ~3.6%.


Karuna Therapeutics (KRTX US): BMS Acquisition Offers Decent Short-Term Trading Opportunity

United States

BioMarin Pharmaceutical Inc. develops and commercializes therapeutic enzyme products.  The Company has applied its proprietary enzyme technology to develop products for lysosomal storage diseases and for the treatment of serious burns. BioMarin's subsidiary provides analytical and diagnostic products and services in the area of carbohydrate biology.

Biomarin Pharmaceutical (BMRN US)

BioMarin Pharmaceutical Inc.: What Is Their Expected Revenue Growth After Ther Efforts Towards Streamlining Expenditure? - Major Drivers

BioMarin Pharmaceutical Inc. reported strong financial results for Q1 2024, while implementing significant advances as part of the company's new...

Baptista Research

BioMarin Corporation: Will Its Strategic Portfolio Review Work? - Major Drivers

BioMarin Pharmaceutical recorded a 20% revenue growth in the fourth quarter of 2023 compared to Q4 of 2022. The company gained total revenue...

Baptista Research

BioMarin Pharmaceutical Inc.: Voxzogo Supply Constraints & Commercial Growth As A Growth Catalyst! - Key Drivers

BioMarin Pharmaceutical Inc. delivered a mixed set of results for the previous quarter, with revenues well below analyst expectations but managed...

Baptista Research

BioMarin Pharmaceutical Inc.: What Are The Biggest Catalysts For Its Future Growth? - Financial Forecasts

BioMarin Pharmaceutical delivered an all-around beat in the most recent quarterly result. In the quarter, revenues showed 13% year-over-year...

Baptista Research

Karuna Therapeutics (KRTX US): BMS Acquisition Offers Decent Short-Term Trading Opportunity

BMS is acquiring Karuna Therapeutics for $330/share in cash, with the deal expected to close in 1H24. Current market price of Karuna shares...

Tina Banerjee

BioMarin Pharmaceutical Inc.: What Is Their Expected Revenue Growth After Ther Efforts Towards Streamlining Expenditure? - Major Drivers

BioMarin Pharmaceutical Inc. reported strong financial results for Q1 2024, while implementing significant advances as part of the company's new...

Baptista Research

BioMarin Corporation: Will Its Strategic Portfolio Review Work? - Major Drivers

BioMarin Pharmaceutical recorded a 20% revenue growth in the fourth quarter of 2023 compared to Q4 of 2022. The company gained total revenue...

Baptista Research

BioMarin Pharmaceutical Inc.: Voxzogo Supply Constraints & Commercial Growth As A Growth Catalyst! - Key Drivers

BioMarin Pharmaceutical Inc. delivered a mixed set of results for the previous quarter, with revenues well below analyst expectations but managed...

Baptista Research

BioMarin Pharmaceutical Inc.: What Are The Biggest Catalysts For Its Future Growth? - Financial Forecasts

BioMarin Pharmaceutical delivered an all-around beat in the most recent quarterly result. In the quarter, revenues showed 13% year-over-year...

Baptista Research

Karuna Therapeutics (KRTX US): BMS Acquisition Offers Decent Short-Term Trading Opportunity

​BMS is acquiring Karuna Therapeutics for $330/share in cash, with the deal expected to close in 1H24. Current market price of Karuna shares...

Tina Banerjee

BMS is acquiring Karuna Therapeutics for $330/share in cash, with the deal expected to close in 1H24. Current market price of Karuna shares...