Jefferies analyst Eun Yang reiterated a Buy rating and $135 price target on BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) saying the company's confidence in drisapersen approvability is evident.

Yang commented, "BMRN confidence in drisapersen approvability has increased from pre-NDA discussions with FDA. If granted full approval (vs. accelerated), post-marketing study may not be required. With >300 pts treated over 3 years, BMRN is comfortable with drisapersen safety data (key focus of FDA). If approved (vs. our assumed 60% probability), we see >25% upside from current levels."

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 $124.99 yesterday.