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Fly News Breaks for October 30, 2019
BMRN
Oct 30, 2019 | 06:23 EDT
Citi analyst Mohit Bansal lowered his price target for Biomarin Pharmaceutical to $95 from $120 to account for "slow and steady" launches of Brineura and Palynziq. The analyst believes Valrox and Vosoritide are key to the company's long-term value and he keeps a Buy rating on the shares. He sees the stock trading closer to $85 on good Vosoritide data and $60 on a Vosoritide failure. At the current market price, the Street assigns 50% probability to Vosoritide and 25% to Valrox, Bansal tells investors in a research note.
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