BofA/Merrill said BioMarin (BMRN) is a strong potential takeout candidate given its diversified, rapidly growing revenue base and robust pipeline. The firm said Shire (SHPG) is not the only company speculated to have interest in BioMarin but believes a deal near-term is not likely as any interested acquirer would wait for the submission of drisapersen and acceptance by the FDA before making a move. Additionally, BofA/Merrill believes a deal would have to be at a significant premium, in the $25B range, which limits potential acquirers. The firm raised BioMarin's price target to $140 from $123 to reflect a lower weighted cost of capital and maintains its Buy rating.