BioMarin's BMN-701 has 60% Probability of Success, Says Analyst

March 20, 2013 1:30 PM 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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Leerink Swann today reiterated an Outperform rating on BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) with a modifed price target of $72.00 (from $65.00). Yesterday the company announced Phase I/II study results for BMN-701.

Analyst Joseph P. Schwartz increased probability of success for BioMarin Pharmaceutical BMN-701 to 60 percent from 30 percent previously.

Schwartz added that, "We believe that a solid Aldurazyme franchise coupled with premium pricing for Naglazyme and Kuvan and what we view as a potential call option on several drugs in the pipeline position BMRN shares for long-term outperformance."

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 $60.76 yesterday.

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