BioMarin upgraded at Barclays on optimism for achondroplasia trial

BioMarin Pharma (BMRN +2.5%) gets a boost as Barclays upgrades shares to Overweight from Equal Weight with a $98 price target, raised from $86, as analyst Gena Wang sees a favorable risk/reward into the Phase 3 data readout for vosoritide, which she expects will be positive.

Vosoritide’s Phase 3 trial for treating achondroplasia is “well powered to allow for statistical significance,” Wang writes, adding the shares also reflect little value for BMRN’s ValRox hemophilia A gene therapy.

BMRN’s average Sell Side Rating, Seeking Alpha Authors’ Rating and Quant Rating are all Bullish.

https://seekingalpha.com/news/3522447-biomarin-upgraded-barclays-optimism-achondroplasia-trial