Goldman Sachs Remains Bullish on BioMarin (BMRN)

July 26, 2013 1:47 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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Goldman Sachs today maintained a Buy rating on BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) with a price target of $76.00. The price target is derived from a
85%/15% blend of Goldman's DCF ($74) and theoretical M&A ($90) values.

"BMRN is set up well for outperformance starting in late 2013. Vimizim launch is the near-term investor focus. We continue to expect headwinds for BMRN until Vimizim receives regulatory approval. However, we expect approval to serve as a catalyst," said analyst Navdeep Singh.

He believes launch is set up well to beat consensus and thinks investors will feel more comfortable assigning value to BioMarin remaining of pipeline.

For an analyst ratings summary and ratings history on BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) click here. For more ratings news on BioMarin Pharmaceutical Inc. click here.

Shares of BioMarin Pharmaceutical Inc. closed at $63.82 yesterday.

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