Canaccord Genuity Reiterates a 'Buy' on BioMarin Pharmaceutical (BMRN); Watching The Pipeline
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Price: $82.17 -9.9%
Rating Summary:
23 Buy, 10 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
23 Buy, 10 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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Canaccord Genuity reiterates a 'Buy' on BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) price target of $43.00.
Analyst, Salveen Richter, said, "BMRN reported Q1/12 top-line revenue of $116.6M, below consensus of $118.8M but in-line with CGe of $116.7M, but increased the lower bound of its FY12 Naglazyme revenue guidance to $250M-$265M (vs. $240M-$265M prev.) With five data readouts in H2/12, including the key value inflection drivers (P3 GALNS data in MPS IVA and P1/2 BMN-701 data in Pompe in Q4), we continue to view shares as attractive at current levels and expect them to trade higher into these events."
"...As such, we are increasing our FY12 revenue estimate to $491.7M (vs. $488.9M), but lowering our GAAP EPS estimate to $(0.78) (vs. $0.77))."
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 $35.30 yesterday.
Analyst, Salveen Richter, said, "BMRN reported Q1/12 top-line revenue of $116.6M, below consensus of $118.8M but in-line with CGe of $116.7M, but increased the lower bound of its FY12 Naglazyme revenue guidance to $250M-$265M (vs. $240M-$265M prev.) With five data readouts in H2/12, including the key value inflection drivers (P3 GALNS data in MPS IVA and P1/2 BMN-701 data in Pompe in Q4), we continue to view shares as attractive at current levels and expect them to trade higher into these events."
"...As such, we are increasing our FY12 revenue estimate to $491.7M (vs. $488.9M), but lowering our GAAP EPS estimate to $(0.78) (vs. $0.77))."
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 $35.30 yesterday.
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