Jefferies Raises Numbers On BioMarin (BMRN) After Update from ICHG/ASHG

Jefferies raised estimates and its price target on Buy-rated BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) from $35 to $38.

The firm comments, "At ICHG/ASHG, experts are positive on clinically meaningful benefits of GALNS in Morquio patients (in Ph3), Kuvan efficacy in practice/potential neurocognitive improvements, & superior profile of BMN-701 (vs. Myozyme). With several key clinical data readouts in next 12 months from its rich pipeline, we view BMRN as well positioned for significant upside from current levels."

FY11 EPS was raied from ($0.31) to ($0.30) and FY12 from $0.00 to $0.02.

For more ratings news on BioMarin Pharmaceutical Inc. click here and for the rating history of BioMarin Pharmaceutical Inc. click here.

Shares of BioMarin Pharmaceutical Inc. closed at $33.40 yesterday.

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