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.
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