Nomura Securities Starts BioMarin Pharmaceutical Inc. (BMRN) at Neutral, $75 PT

January 8, 2014 7:56 AM EST
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Price: $86.92 --0%

Rating Summary:
    20 Buy, 6 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Nomura Securities initiates coverage on BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) with a Neutral. PT $75.00.

"BioMarin's diversified product portfolio—with four marketed drugs, an advanced pipeline with three drugs in Phase III trials and a focus on high margin ultra orphan diseases—supports our expectations for revenues to grow from $540mn in 2013E to $2.0bn in 2020E," analyst Ian Somaiya comments. " However, lack of meaningful catalysts in the near term and investors’ expectations for a strong Vimizim launch, with 2014 sales beating the Street (~$70mn), leave us on the sidelines until we get closer to major clinical data readouts later this year. FY13E EPS at ($0.71); FY14E EPS at ($0.84)."

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 $68.54 yesterday.

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