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Fly News Breaks for March 22, 2016
BMRN
Mar 22, 2016 | 07:20 EDT
William Blair analyst Tim Lugo recommends using the selloff yesterday in shares of BioMarin as a buying opportunity ahead of the company's analyst event on April 20. The analyst calls the pegvaliase data mixed and lowered his peak sales estimate of the drug to $500M while maintaining a 2017 approval time frame. The move dropped his price target for the shares to $108 from $111. Lugo still expects "strong proof-of-concept" BMN270 data in hemophilia A and keeps an Outperform rating on BioMarin.
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