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Fly News Breaks for February 22, 2019
BMRN
Feb 22, 2019 | 07:26 EDT
Cantor Fitzgerald analyst Eliana Merle reiterates an Overweight rating on BioMarin with a $126 price target following the company's Q4 results and 2019 guidance. BioMarin's base business trends "remain robust," Merle tells investors in a research note. The analyst also thinks that investors will review the top-line update for valrox in early June "as a potential clearing event." She expects BioMarin to outperform in the second half of 2019 and believes that it is undervalued based on the value of its base business and current pipeline.
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