UPDATE: Credit Suisse UPgrades BioMarin Pharmaceutical

In a note released Monday morning a team of analysts at Credit Suisse updated shares of BioMarin Pharmaceutical from Neutral to Outperform and maintained a $73 price target. The team had previously had concerns about the valuation of the company but now see the pull back in its share price as creating a "more compelling" entry point. Further more, the team says there is the potential for 20 percent upside to their price target, despite having lowered 2014 Vimizim from $65 million to $60 million. Looking forward, the Credit Suisse team sees catalysts in 2015 in the way of expected trial results for BioMarin's BMN 111, BMN 190, PEG-PAL, and BMN-70. Shares of BioMarin have got a nice bump from the upgrade and were trading up ~2.3 percent at $63.19 in today's pre-market session, at last check.