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Fly News Breaks for August 18, 2016
BMRN
Aug 18, 2016 | 06:13 EDT
Piper Jaffray analyst Joshua Schimmer lowered his price target for BioMarin Pharmaceutical to $107 after updating his outlook for the second half of 2016. The analyst says he struggles "somewhat" with the stock's valuation as he still sees risk in key pipeline programs, namely hemophilia A gene therapy, vosoritide for achondroplasia, and pegvaliase PKU. Schimmer, however, keeps an Overweight rating on BioMarin. "Theoretical concerns do not stop us from being constructive on shares," the analyst tells investors in a research note.
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