BioMarin (BMRN) PT Raised to $115 at Baird Following BMN 270 Update
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Rating Summary:
22 Buy, 10 Hold, 0 Sell
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Up: 13 | Down: 11 | New: 11
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Baird analyst Michael Ulz reiterated an Outperform rating and raised his price target on BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) to $115.00 (from $110.00) as updated BMN 270 data provide proof-of-concept and support advancement into Phase 2b.
Ulz commented, "Updated data from the Phase 1/2 trial of BMN 270 in hemophilia A at the World Federation of Hemophilia (WFH) were presented late yesterday. Importantly, Factor VIII (FVIII) expression levels were meaningful and continued to increase, while only a short course of steroids appear necessary. That said, FVIII levels above the normal range (two patients) introduces risk, though dose optimization in a Phase 2b study, expected to begin in mid-2017, should mitigate this risk."
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 $98.09 yesterday.
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