Brokerages Expect BioMarin Pharmaceutical Inc. (BMRN) Will Post Earnings of -$0.17 Per Share
Wall Street brokerages expect that BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) will report earnings per share of ($0.17) for the current fiscal quarter, Zacks reports. Ten analysts have issued estimates for BioMarin Pharmaceutical’s earnings, with estimates ranging from ($0.34) to $0.09. BioMarin Pharmaceutical reported earnings per share of ($2.61) in the same quarter last year, which would suggest a positive year over year growth rate of 93.5%. The company is expected to report its next earnings report on Thursday, August 3rd.
On average, analysts expect that BioMarin Pharmaceutical will report full-year earnings of ($0.56) per share for the current financial year, with EPS estimates ranging from ($1.00) to $0.47. For the next year, analysts anticipate that the company will post earnings of ($0.09) per share, with EPS estimates ranging from ($0.96) to $0.81. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover BioMarin Pharmaceutical.
BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Thursday, May 4th. The biotechnology company reported $0.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.33. The firm had revenue of $303.70 million during the quarter, compared to analysts’ expectations of $292.58 million. BioMarin Pharmaceutical had a negative net margin of 48.43% and a negative return on equity of 22.71%. The business’s revenue for the quarter was up 28.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.53) earnings per share.
Several research analysts have issued reports on BMRN shares. Vetr lowered shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating and set a $95.10 price target for the company. in a report on Monday, April 10th. J P Morgan Chase & Co set a $123.00 price target on shares of BioMarin Pharmaceutical and gave the stock a “buy” rating in a report on Saturday, February 25th. Cowen and Company restated a “buy” rating and set a $150.00 price target on shares of BioMarin Pharmaceutical in a report on Friday, February 24th. Jefferies Group LLC restated a “buy” rating and set a $116.00 price target on shares of BioMarin Pharmaceutical in a report on Wednesday, April 26th. Finally, Deutsche Bank AG set a $105.00 price objective on shares of BioMarin Pharmaceutical and gave the stock a “buy” rating in a research report on Friday, April 28th. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $111.06.
In other BioMarin Pharmaceutical news, SVP Brian Mueller sold 7,482 shares of BioMarin Pharmaceutical stock in a transaction on Monday, May 8th. The shares were sold at an average price of $91.87, for a total transaction of $687,371.34. Following the transaction, the senior vice president now directly owns 18,350 shares of the company’s stock, valued at approximately $1,685,814.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jeffrey Robert Ajer sold 1,004 shares of BioMarin Pharmaceutical stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $89.61, for a total transaction of $89,968.44. Following the transaction, the executive vice president now directly owns 47,944 shares in the company, valued at $4,296,261.84. The disclosure for this sale can be found here. Insiders have sold a total of 64,649 shares of company stock worth $5,977,789 over the last ninety days. Insiders own 2.50% of the company’s stock.
A number of institutional investors have recently bought and sold shares of BMRN. Vanguard Group Inc. increased its position in BioMarin Pharmaceutical by 3.7% in the first quarter. Vanguard Group Inc. now owns 13,702,404 shares of the biotechnology company’s stock worth $1,202,796,000 after buying an additional 495,118 shares in the last quarter. Jennison Associates LLC increased its position in BioMarin Pharmaceutical by 6.7% in the first quarter. Jennison Associates LLC now owns 9,871,207 shares of the biotechnology company’s stock worth $866,495,000 after buying an additional 617,001 shares in the last quarter. Primecap Management Co. CA increased its position in BioMarin Pharmaceutical by 10.5% in the first quarter. Primecap Management Co. CA now owns 8,712,268 shares of the biotechnology company’s stock worth $764,763,000 after buying an additional 826,320 shares in the last quarter. State Street Corp increased its position in BioMarin Pharmaceutical by 6.9% in the first quarter. State Street Corp now owns 4,001,529 shares of the biotechnology company’s stock worth $351,249,000 after buying an additional 258,417 shares in the last quarter. Finally, Palo Alto Investors LLC increased its position in BioMarin Pharmaceutical by 21.5% in the first quarter. Palo Alto Investors LLC now owns 2,382,619 shares of the biotechnology company’s stock worth $209,146,000 after buying an additional 422,400 shares in the last quarter. 96.61% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of BioMarin Pharmaceutical (NASDAQ BMRN) traded up 2.71% on Monday, reaching $90.89. 676,308 shares of the company were exchanged. The company’s market cap is $15.86 billion. BioMarin Pharmaceutical has a 12 month low of $73.45 and a 12 month high of $102.49. The company’s 50-day moving average price is $90.89 and its 200 day moving average price is $88.75.
About BioMarin Pharmaceutical
BioMarin Pharmaceutical Inc is a biotechnology company. The Company develops and commercializes pharmaceuticals for various diseases and medical conditions. As of December 31, 2016, the Company’s therapy portfolio consisted of five products, and multiple clinical and pre-clinical product candidates. Its commercial products include Aldurazyme (laronidase) for Mucopolysaccharidosis I (MPS I), Firdapse (amifampridine phosphate) for Lambert Eaton Myasthenic Syndrome (LEMS), Kuvan (sapropterin dihydrochloride) for phenylketonuria (PKU), Naglazyme (galsulfase) for Mucopolysaccharidosis VI (MPS VI) and Vimizim (elosulfase alpha) for Mucopolysaccharidosis IV Type A (MPS IV A).
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