BioMarin (BMRN) PT Raised to $120 at Piper Jaffray

August 5, 2016 9:01 AM EDT
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Price: $84.62 --0%

Rating Summary:
    20 Buy, 6 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 19 | Down: 13 | New: 9
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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)..."

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 $99.62 yesterday.

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Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

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Piper Jaffray, Joshua Schimmer

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