Canaccord upgraded BioMarin (BMRN) to Buy from Hold with a price target of $98, up from $84. The firm believes the pending acquisition of Amicus (FOLD) will be the catalyst to break BioMarin shares out of the recent trading range. As the deal closes, positive commercial and pipeline updates “could more meaningfully and durably shift sentiment” and help close BioMarin ‘s “valuation gap,” the analyst tells investors in a research note.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BMRN:
- BioMarin: Undervalued Growth Story Reinforced by Strategic Amicus Acquisition and Expanding Rare-Disease Franchise
- BioMarin’s Palynziq Pregnancy Study: What the Latest Update Means for Investors
- BioMarin Deepens Long-Term Palynziq Data With New PKU Post‑Marketing Study
- BioMarin’s PALace Study: Long-Term Safety Check on Palynziq and What It Means for Investors
- BioMarin: Sustained Double-Digit Growth Story Underpinned by Voxzogo Leadership, Advancing Rare-Disease Pipeline, and Accretive Amicus Acquisition