In a note released Monday morning a team of analysts at Credit Suisse updated shares of BioMarin Pharmaceutical from Neutral to Outperform and maintained a $73 price target.
The team had previously had concerns about the valuation of the company but now see the pull back in its share price as creating a "more compelling" entry point. Further more, the team says there is the potential for 20 percent upside to their price target, despite having lowered 2014 Vimizim from $65 million to $60 million.
Looking forward, the Credit Suisse team sees catalysts in 2015 in the way of expected trial results for BioMarin's BMN 111, BMN 190, PEG-PAL, and BMN-70.
Shares of BioMarin have got a nice bump from the upgrade and were trading up ~2.3 percent at $63.19 in today's pre-market session, at last check.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in