Biotech investors are a hearty lot. They need to be because often a company’s success or failure can rely on a single positive clinical outcome. A new report from SunTrust Robinson Humphrey handicaps some of the upcoming events for stocks in the firm’s coverage universe that have potential market-moving clinical and FDA catalysts during the remainder of 2015.
The SunTrust list of stocks to buy is an eclectic and outstanding selection of some of the top clinical stage development companies. While some have no current revenue, most are developing orphan drugs or antibiotics, and pricing pressure is not as imminent as with companies in the oncology arena.
We screened the SunTrust list for the stocks that had 2015 catalysts and solid current clinical data.
This company is one of Wall Street’s favorites and earnings will be announced after the close Monday. BioMarin Pharmaceuticals Inc. (NASDAQ: BMRN) develops and commercializes innovative biopharmaceuticals for serious diseases and medical conditions. The company’s product portfolio comprises five approved products and multiple clinical and preclinical product candidates.
Over the past decade, BioMarin has become one of the top orphan drug companies, and it looks poised to stay there. The company is expected to post around $880 million in revenue this year and possibly around $1.1 billion next year following the approval of Vimizim, an enzyme replacement therapy for Morquio syndrome. BioMarin had raised its guidance for Vimizim to $200 million to $220 million from $170 million to $200 million.
The SunTrust analyst notes the company could have big readouts this year, and it expects continued solid performance from BioMarin’s marketed products. The Drisapersen FDA Advisory Committee review is expected to be in late November and many on Wall Street think Drisapersen prospects for approval appear to be very good.
SunTrust has a $170 price target for the stock, while Thomson/First Call consensus target is $148.59. The stock closed on Friday at $146.27.