Jefferies Raises Price Target on BioMarin Pharma (BMRN) to $120; Reiterates Buy
- AT&T (T) to Acquire Time Warner (TWX) for $107.50/Share
- Rockwell Collins (COL) to Acquire B/E Aerospace (BEAV) for $6.4B
- China Oceanwide to Acquire Genworth Financial (GNW) for $2.7B
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Jefferies reiterated a Buy rating on BioMarin Pharmaceutical Inc. (NASDAQ: BMRN), and raised the price target to $120.00 (from $116.00), following the company's 2Q earnings report.
Analyst Eun Yang commented, "Higher 2Q revenue on higher Vimizim & Kuvan sales. With Naglazyme, Kuvan & Vimizim sales running at >$300M each in 2016, BMRN continues to expect nonGAAP breakeven or better in 2017 (breakeven at ~$1.2-1.3B in annual revenue, by our estimate). Assuming potential approval of Brineura in 1Q17 and of PEGPAL in 2018, we forecast a 5-yr revenue CAGR of ~24% thru 2020."
Shares of BioMarin Pharmaceutical Inc. closed at $99.62 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Jefferies Cuts Price Target on Reliance Steel (RS) Following 3Q EPS Miss and Guidance
- Wedbush Reiterates Outperform on Pool Corp. (POOL) Following 3Q Report
- Jefferies Cuts Price Target on Boston Beer Co. (SAM) to $140 Following Weak 3Q
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesJefferies & Co, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!