In March 2018, the EMA (European Medicines Agency) accepted BioMarin Pharmaceutical’s (BMRN) marketing authorization application for pegvaliase. Pegvaliase is indicated for the treatment of adults with phenylketonuria who have shown inadequate blood phenylalanine control despite previous therapies. Previously, the FDA accepted BioMarin’s biologics license application for pegvaliase, granting it priority review status. The FDA has set its PDUFA (Prescription Drug User Fee Act) action date for May 25, 2018.
The FDA’s and EMA’s approval of pegvaliase will allow BioMarin to commercialize the drug in US and European markets. The approval and launch of pegvaliase are expected to boost BioMarin’s revenue.
Of the 24 analysts tracking BioMarin Pharmaceutical in March 2018, eight have recommended “strong buy,” 12 have recommended “buy,” and four have recommended “hold.” On March 29, 2018, analysts had given BioMarin a 12-month target price of $115.29, which represents a 42.2% investment return over the next 12 months.
Of the 33 analysts tracking Biogen (BIIB) in March 2018, ~73% gave it some form of “buy” rating. On March 29, 2018, Biogen had a 12-month target price of $378.90, representing a 38.4% return over the next 12 months.
Of the 27 analysts tracking Vertex Pharmaceuticals (VRTX) in March 2018, ~85% gave it some form of “buy” rating. On March 29, Vertex had a 12-month target price of $192.44, representing an 18.1% return over the next 12 months.
Of the 13 analysts tracking Ionis Pharmaceuticals (IONS) in March 2018, ~38% gave it some form of “buy” rating. Ionis had a 12-month target price of $61.27, representing a 39% return over the next 12 months.