Brean Murray Maintains Hold on BioMarin Pharma After Analyst Day

Brean Murray Carret & Company has published a research report on BioMarin Pharmaceuticals (NASDAQ: BMRN) commenting on the company's Analyst Day highlights.

In the report, Brean Murray writes, "Morquio syndrome affects 1/200,000 children (about 1,500 in the U.S.) and is the subject of BioMarin's primary future clinical catalyst. We expect enrollment (now at 76 patients) to hit its target of 162 in mid‐2012, with data released no later than 1Q13. BioMarin should be able to avoid all or almost all surgery complications within the 24‐week period leading up to the primary endpoint, and we believe that the biggest potential impediment to success is patient variability. If the pivotal Morquio trial misses its endpoint, BioMarin will attempt to argue for approval using the totality of the data."

Brean Murray maintains its Hold rating on BioMarin Pharmaceuticals, which closed yesterday at $33.18.