RBC Capital Markets raised its price target on BioMarin Pharmaceuticals (BMRN) Wednesday after a meeting with management raised hope for approval of its muscular-dystrophy drug. Analyst Michael Yee lifted his target on BioMarin stock to 155 from 145, assigning a 65% probability of approval to drisapersen, the Duchenne muscular dystrophy (DMD) drug that is due for an FDA decision by Dec. 27. Among his reasons for confidence: “totality of three
Two potential treatments for Duchenne muscular dystrophy inched closer to the U.S. market Monday, as BioMarin Pharmaceutical (BMRN) got an FDA decision date and Sarepta Therapeutics (SRPT) finally completed its application. BioMarin announced that the FDA had accepted its filing of drisapersen, the DMD drug it acquired with its buyout of Prosensa last year, and set itself a deadline to make a ruling by Dec. 27. Since that’s a Sunday, the decision
Big-cap biotech BioMarin Pharmaceuticals (BMRN) got a host of price target increases and hit a new high in early trading Thursday after it reported success in a trial of a dwarfism drug late Wednesday. BioMarin said its drug vosoritide, or BMN-111, had yielded a 50% improvement in annual growth velocity in a phase-two study of children with achondroplasia, the most common form of dwarfism. No serious adverse events were reported. The company will