SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Biotech / Medical : analysts and calls -- ML
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
From: tom pope2/13/2007 9:02:24 AM
   of 238
 
BioMarin on track; raising price objective to $25
We are raising our price objective on BMRN stock to $25 from $19 for four
reasons: (1) higher estimates for Phenoptin in the treatment of phenylketonuria
(PKU); (2) higher peak sale estimates for Naglazyme; (3) multiple shots on goal
for the BH4 program and (4) attractive acquisition value. BioMarin expressed
great confidence in its products and pipeline programs at the recent Merrill
conference and at a dinner we hosted for management. Reiterate Buy.

Higher estimates for Phenoptin in PKU
We raised our Phenoptin peak U.S. sales estimate to $200mn from $135mn
based on demonstrated efficacy, the lack of treatments for PKU and BMRN’s
commercial expertise in orphan drugs. BioMarin expects to file an NDA for
Phenoptin in mild to moderate PKU in 2Q07, and assuming 6-month priority
review, we expect approval by YE07/early’08.

Higher estimates for Naglazyme in MPS VI
We raised our peak sale estimate for Naglazyme to $240mn from $175mn in the
treatment of MPS VI. We believe our estimates were conservative and that the
drug could track along a similar trajectory to that of Aldurazyme.

Multiple shots on goal for 6R-BH4 program
Though early, the studies for 6R-BH4 in several cardiovascular indications
represent multiple shots on goal. Mechanistically, BH4 makes sense in these
areas and we look for phase IIa data in poorly controlled hypertension in late Feb.
Attractive acquisition candidate
With potentially 3 products and profitability in ’08 and active R&D in
cardiovascular disease, BMRN could make an attractive acquisition candidate.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News