BioMarin reports Q2 adjusted EPS 6c, consensus (42c) Reports Q2 revenue $191.7M, consensus $158.96M. The increased non-GAAP net income for Q2 compared to the second quarter of 2013 was primarily due to strong uptake of VIMIZIM in its first full quarter of commercial sales, and significant growth in revenues from other commercial products including, Naglazyme, KUVAN, Aldurazyme and Firdapse. VIMIZIM sales topped $14M in first full quarter of sales.
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.