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Fly News Breaks for February 23, 2016
BMRN
Feb 23, 2016 | 08:03 EDT
Leerink analyst Joseph Schwartz lowered his price target for BioMarin to $120 citing overall multiple contraction and reiterates an Outperform rating on the name. Ahead of data at the WORLD Lysosomal Storage Disorder Symposium, the analyst previewed BMN190 as the first enzyme replacement therapy for CLN2/Batten disease. Schwartz expects upcoming Phase I/II/III pivotal data to be "suggestive of meaningful disease stabilization" at pegs peak sales of $250M worldwide.
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