BioMarin should be bought on any weakness, says RW Baird Baird recommends taking advantage of any weakness in BioMarin following its positive announcement the BMN-701 met the criteria to advance to Phase ll/lll. The firm believes the announcement was tempered by the proposed path to registration and clinical endpoints but could still be meaningfully differentiated from its existing competitor. Shares are Outperform rated with a $63 price target.
BioMarin upgraded to Buy from Neutral at Goldman Goldman upgraded BioMarin to Buy based on increased confidence in BMN-111 for achondroplasia with expected proof-of-concept data in Q2 2015. The firm now sees a greater than 50% probability of success and peak sales of $900M. Price target raised to $104 from $78.