Market Overview

UPDATE: Jefferies Raises PT to $46 on BioMarin Pharmaceutical Ahead of GALNS Data

Share:
Related BMRN
Benzinga's M&A Chatter for Monday August 24, 2015
Piper Jaffray Goes Overweight Sarepta, Expects FDA To Accept Next Key Drug Filing
The Zacks Analyst Blog Highlights: Vital Therapies, Amgen, BioMarin, Acorda and Macrocure (Zacks)

Jefferies reiterated its Buy rating on BioMarin Pharmaceutical (NASDAQ: BMRN) and raised its price target from $44 to $46.

Jefferies said, "Our experts discussions indicate probability of successful GALNS Ph3 for Morquio A syndrome (MPS IV) at ~60%-85%. If successful, we forecast ~25-30% upside from current levels (& BMRN will likely continue to trade up on additional pipeline potential). BMRN expects GALNS BLA filing in 1Q13, with potentially regulatory approval by 4Q13. We forecast GALNS to turn BMRN to profitability, with peak annual sales potential of ~$500M."

BioMarin Pharmaceutical closed at $38.87 on Tuesday.

Latest Ratings for BMRN

DateFirmActionFromTo
Aug 2015JefferiesMaintainsBuy
Aug 2015Deutsche BankMaintainsBuy
Aug 2015Bank of AmericaMaintainsBuy

View More Analyst Ratings for BMRN
View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (BMRN)

Get Benzinga's Newsletters