BioMarin Pharma (BMRN): Cutting PT on PDFUA Extension and Financing - Wedbush

September 7, 2016 7:33 AM EDT
Get Alerts BMRN Hot Sheet
Price: $84.62 -1.78%

Rating Summary:
    20 Buy, 6 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Wedbush analyst, Liana Moussatos, reiterated her Outperform rating on shares of BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) after PDUFA date for Brineura for CLN2 disease was delayed to April 27, 2017 and an advisory committee meeting was announced.

The analyst considers the PDUFA extension and plans for an advisory committee for Brineura treatment of CLN2 disease as a minor negative. Due to the high unmet need, she believes Brineura is likely to receive first-pass approval.

The price target drops to $104 from $108.

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 $95.59 yesterday.

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