Janney Capital Maintains Buy On BioMarin Ahead Of 2Q:14 Earnings
In a research note released today, Janney Capital analyst Kimberly Lee maintained a Buy rating on BioMarin Pharmaceutical (BMRN) and a $65 price target, which represents a potential upside of 10% from where the stock is currently trading.
Lee wrote, “We forecast 2Q revenue of $161.1 million (consensus $159.9 million) and EPS of $(0.51) (consensus $(0.41)). We believe investors will be focused on the Vimizim launch as this will be the first full quarter of sales. Recall that the company has already identified more than 1,500 patients. We anticipate an update on launch metrics but do not anticipate any major changes to the 2014 outlook yet. On the call, we also expect updates on BMN 701, BMN 111, BMN 673, BMN 190 and PEG-PAL”.
According to TipRanks.com, which measures analysts and bloggers success rate based on how their calls perform, analyst Kimberly Lee currently has a one-year average return of 12.0% and a 53% success rate. Lee is ranked #970 out of 3213 analysts.