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Fly News Breaks for January 24, 2020
BMRN
Jan 24, 2020 | 06:17 EDT
RBC Capital analyst Kennen Mackay upgraded BioMarin to Outperform from Sector Perform with a price target of $113, up from $111. The analyst believes that the stock is undervalued ahead of the regulatory decisions on ValRox and the possibility of the company's first "product genericization." Mackay also expects Biomarin's pipeline to compensate for the genericization of Kuvan and notes that its ValRox and vosoritide will "grow the franchise significantly" over time.