BioCentury on BioBusiness,
Analyst Picks & Changes
Analyst picks & changes
Published on
Monday, November 12, 2012
|
Company
|
Bank
|
Analyst
|
Coverage
|
Opinion
|
Wk
chg
|
11/9
cls
|
|
BioMarin
Pharmaceutical Inc. (NASDAQ:BMRN)
|
Baird
|
Christopher
Raymond
|
Price
target
|
Outperform
|
29%
|
$48.09
|
|
|
Barclays
Capital
|
Ying
Huang
|
Price
target
|
Overweight
|
|
|
|
Brean
Capital
|
Jonathan
Aschoff
|
Downgrade
|
Hold
(from buy)
|
|
|
|
Jefferies
|
Eun
Yang
|
Price
target
|
Buy
|
|
|
|
Leerink
|
Joseph
Schwartz
|
Price
target
|
Outperform
|
|
|
|
Summer
Street
|
Carol
Werther
|
Price
target
|
Buy
|
|
|
|
Wedbush
|
Liana
Moussatos
|
Price
target
|
Neutral
|
|
|
|
Raymond
raised his target to $54 from $45 after BioMarin reported that once-weekly 2
mg/kg IV GALNS met the primary endpoint in the Phase III MOR-004 trial to
treat mucopolysaccharidosis IVA (MPS-IVA, Morquio's syndrome). BioMarin plans
to submit regulatory applications starting next quarter (see B19).
Raymond expects an approval and a launch in 4Q13 for the recombinant human
N-acetylgalactosamine-6-sulfatase.
|
|
Huang
raised his target to $54 from $46 on the GALNS news.
|
|
Aschoff
downgraded on the market price following the GALNS news.
|
|
Yang
raised her target to $60 from $46 on the GALNS news. She anticipates that
GALNS will turn BioMarin profitable in 2014, with peak annual GALNS sales of
about $600M by 2019.
|
|
Schwartz
raised his target to $65 from $44 on the GALNS news.
|
|
Werther
raised her target to $69 from $52 on the GALNS news. She expects approval in
late 2013.
|
|
Moussatos
raised her target to $46 from $41 on the GALNS news and predicts peak sales
of about $745M.
|
|
bioMerieux
S.A. (Euronext:BIM)
|
Jefferies
|
Peter
Welford
|
Downgrade
|
Hold
(from buy)
|
-6%
|
€70.30
|
|
Welford
downgraded despite raising his target to €74 from €66.
He believes the in vitro diagnostics company will sustain at least a
5-6% organic growth trajectory, but believes the stock is fairly valued based
on an expected 2013 adjusted EPS of €4.63 with a target
multiple of 16x, which is in line with its peers.
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