BioMarin (BMRN) PT Raised to $120 at Piper Jaffray
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Piper Jaffray analyst Joshua Schimmer reiterated an Overweight rating and lifted his price target on BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) to $120.00 (from $107.00) following Q2 results and raised guidance.
Schimmer commented, "After the close, BMRN reported strong 2Q results and raised FY2016 guidance based on Vimizim and to a lesser extent Kuvan as well as lower opex. BMRN continues its transition to profitability, with the company achieving non-GAAP profitability this quarter. As key pipeline programs graduate to commercialized ones over the next 12-18 months and the topline continues to grow, BMRN is increasingly committed and well-positioned to its goal of non-GAAP profitability in 2017. Reiterate OW though PT moves to $120 (from $107)..."
Shares of BioMarin Pharmaceutical Inc. closed at $99.62 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesPiper Jaffray, Joshua Schimmer
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