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Fly News Breaks for June 18, 2015
BMRN
Jun 18, 2015 | 05:54 EDT
Piper Jaffray analyst Joshua Schimmer raised his price target for BioMarin shares to $147 after the company reported results from the Phase 2 trial of BMN111 in children with achondroplasia. The data showed an "impressive" 50% increase to the annualized grow rate of the children in high dose cohort, Schimmer tells investors in a research note. He views BMN111 as de-risked following the data and sees potential peak revenue of above $1B. Schimmer reiterates an Overweight rating on BioMarin. The stock is up $10.40 to $134.00 in pre-market trading.
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