Leerink Keeps BioMarin (BMRN) at 'Outperform' Amid EMA Validation of Brineura MAA

September 15, 2016 10:30 AM EDT
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Price: $85.21 --0%

Rating Summary:
    20 Buy, 6 Hold, 0 Sell

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Today's Overall Ratings:
    Up: 3 | Down: 5 | New: 17
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Leerink affirms BioMarin (Nasdaq: BMRN) at Outperform with a price target of $127 after the company announced that the European Medicines Agency (EMA) validated the Marketing Authorization Application (MAA) for Brineura (cerliponase alfa) to treat children with CLN2 disease, a form of Batten disease.

The firm commented today: Following a recent announcement of a delay in PDUFA action date, BioMarin announced that EMA has validated the marketing authorization application (MAA) for Brineura (formerly BMN190) in treating CLN2/Batten disease. Assuming a positive opinion from the EMA's Committee for Human Medicinal Products (CHMP), a decision in EU could arrive by 3Q17; however, an earlier decision is also a possibility. This timeline could present an upside to our model assumptions.

For an analyst ratings summary and ratings history on BioMarin Pharmaceutical Inc. click here. For more ratings news on BioMarin Pharmaceutical Inc. click here.

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