Analysts: BioMarin Will Trade Up on Panel Vote and 3 More Research Notes to Browse
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN): Citigroup expects that shares of BioMarin will trade up to the low $70 range following Tuesday’s positive Food and Drug Administration panel vote on Vimizim and believes that the drug will be approved with a broad label followed by strong launch in the first quarter of 2014. The firm keeps a Buy rating on BioMarin with a $79 price target.
IntercontinentalExchange Group (NYSE:ICE): Jefferies sees the pro forma earnings power of the combined IntercontinentalExchange-New York Stock Exchange company as compelling and has raised its price target for IntercontinentalExchange shares to $235. It keeps a Buy rating on the stock.
Gilead Sciences Inc. (NASDAQ:GILD): Citigroup says that Gilead Sciences shares are actually 7 percent cheaper than they appear given an overinflated share count. The firm believes that Gilead’s diluted share count at the end of the third quarter is overinflated by 123 million shares due to outstanding convertible notes and warrants that will be retired in cash in July 2014 and July 2016. The firm expects shares to continue to post solid gains and upped its price target to $87 from $85. Citi keeps a Buy rating on Gilead.
Juniper Networks (NYSE:JNPR): Cantor believes that Juniper Networks is executing well, while its stock appears inexpensive at current levels and should benefit from more stable carrier spending trends. The firm thinks the stock “has attractive upside” over the next year, and it keeps a Buy rating on the shares.