Deutsche Bank Starts BioMarin Pharmaceutical Inc. (BMRN) at Buy

November 3, 2016 6:43 AM EDT
Get Alerts BMRN Hot Sheet
Price: $85.21 -1.97%

Rating Summary:
    20 Buy, 6 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 11
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Deutsche Bank initiates coverage on BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) with a Buy rating and a price target of $106. Analyst Andrew Peters sees a clear path to profitability.

"We view BioMarin as a core holding in mid-cap biotech and see significant upside potential over the next 12mos driven by both continued commercial execution and clinical progress. With 3 new products expected to launch over the next 3-5 years, as well as an earlier-stage pipeline that includes additional potential blockbuster programs (with near-term read-outs), we believe the company is set up well for outperformance. Further, given the current environment and push for external sources of growth, we view BioMarin as a top strategic target in biotech, but view the potential number of suitors are far smaller than many of its smaller-cap peers," said the analyst.

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 $80.90 yesterday.

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