More Upside for BMRN

Dec 19, 2007 (Zacks Investment Research via COMTEX) -- BMRN | charts | news | PowerRating -- Though shares of rare genetic disorder biotech treatment firm BioMarin Pharmaceutical (BMRN) have quadrupled in the past two-and-a-half years when the Buy rating was initiated, Zacks senior biotech analyst Grant Zeng, CFA says there is more pop left in BioMarin looking ahead:'BioMarin Pharmaceutical Inc. develops enzyme therapies for serious chronic genetic disorders and other diseases and conditions. Its leading product, Aldurazyme, is used for treating the ultra-rare genetic disorder mucopolysaccharidosis-I (MPS-I) while its second product, Naglazyme, is appoved for the treatment of MPS-VI. Recently, the company received FDA approval for its third product, Kuvan, for the treatment of PKU. 'Strong sales of Kuvan, coupled with accelerating sales of both Aludrazyme and Naglazyme, will drive the company to profitability in 2008 and beyond. As such, we maintain our Buy rating on the stock with a price target of $42.'We continue to believe that both Aldurazyme and Naglazyme will make significant contributions to the company's top-line growth in the coming years. We are pleased to see the impressive growth in the sales of Aldurazyme and Naglazyme. We expect to see meaningful contribution to the company's top-line and bottom-line growth from the U.S. launch of Kuvan in December 2007 in the coming quarters.'Read the full analyst report on BMRN.

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