Piper Jaffray analyst Joshua Schimmer raised his price target for BioMarin (BMRN) to $163 saying the stock's performance for the remainder of the year primarily depends on the FDA decision for drisapersen. The drug is being studied for the treatment of Duchenne's Muscular Dystrophy and has an FDA action date of December 27. Schimmer remains confident in approval and is "increasingly optimistic" for the drug's commercial outlook. Shares of BioMarin closed yesterday up $1.62 to $145.94. The analyst keeps an Overweight rating on the name. PTC Therapeutics (PTCT) and Sarepta (SRPT) are also developing treatments for Duchenne's Muscular Dystrophy.