BioMarin's (BMRN) Price Target Raised to $155 at RBC

RBC Capital maintained an Outperform rating on BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) and raised its price target to $155.00 (from $145.00). The change follows meetings with management. Analyst Michael J. Yee noted pipeline strength.

"We hosted meetings with highly regarded CMO Hank Fuchs to discuss key mid/late stage programs and upcoming catalysts. Our increased price target of $155 uses 65% probability adjusted for DMD; upside case would be $170–180+ on DCF if DMD is FDA/EMA approved (FDA is big event of the year), if more credit to other Exon's for DMD, and other pipeline continues to play out," said Yee.

For an analyst ratings summary and ratings history on BioMarin Pharmaceutical Inc. click here. For more ratings news on BioMarin Pharmaceutical Inc. click here.

Shares of BioMarin Pharmaceutical Inc. closed at $139.79 yesterday.

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