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Fly News Breaks for April 26, 2018
BMRN
Apr 26, 2018 | 08:07 EDT
The most noteworthy takeaway from BioMarin's Q1 update was the company's "very evident optimism" ahead of next month's pegvaliase PDUFA date, JPMorgan analyst Cory Kasimov tells investors in a research note. While the stock has been relatively stagnant for a prolonged period given a perceived lack of catalysts, the potential approval is one of two potential near-term drivers of sentiment leading up to critical Phase 3 readouts in 2019, Kasimov adds. He reiterates an Overweight rating on BioMarin shares with a $127 price target.
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