BioMarin Pharmaceutical initiated with "buy"

10/11/06 - American Technology Research

NEW YORK, October 11 (newratings.com) - Analyst Peter McDonald of American Technology Research initiates coverage of BioMarin Pharmaceutical Inc (BMRN) with a "buy" rating. The target price is set to $22.

In a research note published yesterday, the analyst mentions that the company has developed and launched two marketed products, Aldurazyme and Naglazyme, and has a third product, Phenoptin, that is about to enter registration. The analyst expects several forthcoming clinical and commercial milestones and regulatory catalysts to boost BioMarin Pharmaceutical’s share price over the forthcoming 12 months.