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Fly News Breaks for May 24, 2018
BMRN
May 24, 2018 | 20:41 EDT
Piper Jaffray analyst Christopher Raymond kept his Overweight rating and $114 price target on BioMarin after the FDA approval of its Palynziq treatment of PKU a day before PDUFA. The analyst adds that while the approval was expected, better labeling and higher pricing for the drug suggest potential upside for the stock price. Raymond notes that this approval has been the "lynchpin" to Biomarin's transformation to "sustainably high EPS", expecting shares to move "measurably" higher in the coming quarters.
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