Wednesday, October 03, 2012 10:03:01 AM
Jefferies reiterated a Buy on BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) and raised its price target to $46.00 (from $44.00).
Jefferies said their experts’ discussions indicate probability of successful GALNS Phase 3 for Morquio A syndrome (MPS IV) at 60-85 percent.
"If successful, we forecast 25-30% upside from current levels," said analyst Eun K. Yang.
"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," he said.
For an analyst ratings summary and ratings history on BioMarin Pharmaceutical Inc. click here. For more ratings news on BioMarin Pharmaceutical Inc. click here.
Shares of BioMarin Pharmaceutical Inc. closed at $40.97 yesterday, with a 52 week range of $29.50-$44.18.
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BMRN
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