Deutsche Bank Downgrades BioMarin Pharmaceutical Inc. (BMRN) to Hold; Risk/Reward Into Phase 3 GALNS
Tweet Send to a FriendGet Alerts BMRN Hot Sheet
Price: $65.55 --0%
Rating Summary:
10 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 11 | New: 14
Rating Summary:
10 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 11 | New: 14
Trade BMRN Now!
Deutsche Bank downgraded BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) from Buy to Hold with a new price target of $45.00.
Analyst, Robyn Karnauskas, said, "We believe bear cases are not based on substantial data & believe phase 3 GALNS trial will be successful. However, even when assigning higher-than-consensus peak sales for GALNS, we do not see a compelling risk/reward into Q4 readout: 16% up/35% down. We are downgrading to Hold because good portion of success is baked in. At the same time, we continue to view BioMarin's business model as innovative & able to generate high margins."
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 $38.70 yesterday, with a 52 week range of $26.61-$44.18.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Robyn Karnauskas, said, "We believe bear cases are not based on substantial data & believe phase 3 GALNS trial will be successful. However, even when assigning higher-than-consensus peak sales for GALNS, we do not see a compelling risk/reward into Q4 readout: 16% up/35% down. We are downgrading to Hold because good portion of success is baked in. At the same time, we continue to view BioMarin's business model as innovative & able to generate high margins."
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 $38.70 yesterday, with a 52 week range of $26.61-$44.18.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: Exane BNP Paribas Downgrades BlackBerry (BBRY) to Underperform; Analyst Says Profit 'Drying Up'
- UPDATE: UBS Downgrades Carnival (CCL) to Neutral; Worst May Not Be Behind
- Goldman Sachs Downgrades Patterson-UTI Energy (PTEN) to Sell
Create E-mail Alert Related Categories
DowngradesRelated Entities
Deutsche Bank
Login with Facebook
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!
