BMRN: BioMarin price target raised to $140 from $123 at BofA/Mer
2015-04-02 12:20:38.97 GMT
BioMarin price target raised to $140 from $123 at BofA/Merrill
BofA/Merrill said BioMarin (BMRN) is a strong potential takeout candidate given
its diversified, rapidly growing revenue base and robust pipeline. The firm
said Shire (SHPG) is not the only company speculated to have interest in
BioMarin but believes a deal near-term is not likely as any interested acquirer
would wait for the submission of drisapersen and acceptance by the FDA before
making a move. Additionally, BofA/Merrill believes a deal would have to be at a
significant premium, in the $25B range, which limits potential acquirers. The
firm raised BioMarin's price target to $140 from $123 to reflect a lower
weighted cost of capital and maintains its Buy rating.
2015-04-02 12:20:38.97 GMT
BioMarin price target raised to $140 from $123 at BofA/Merrill
BofA/Merrill said BioMarin (BMRN) is a strong potential takeout candidate given
its diversified, rapidly growing revenue base and robust pipeline. The firm
said Shire (SHPG) is not the only company speculated to have interest in
BioMarin but believes a deal near-term is not likely as any interested acquirer
would wait for the submission of drisapersen and acceptance by the FDA before
making a move. Additionally, BofA/Merrill believes a deal would have to be at a
significant premium, in the $25B range, which limits potential acquirers. The
firm raised BioMarin's price target to $140 from $123 to reflect a lower
weighted cost of capital and maintains its Buy rating.