BioMarin sees FY14 revenue $650M-$680M, consensus $670.4M BioMarin Pharmaceutical sees FY14 revenues $650M-$680M, including Naglazyme product revenue $290M-$310M, Kuvan product revenue $180M-$200M and VIMIZIM revenue $60M-$70M. Sees FY14 SG&A expense $265M-$285M, R&D expense $500M-$530M and non-GAAP net loss ($100M)-($130M). Guidance issued in slides for conference call.
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.