BioMarin Pharmaceutical Inc. (BMRN) Expected to Post Quarterly Sales of $309.00 Million
Equities research analysts expect BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) to post sales of $309.00 million for the current fiscal quarter, Zacks reports. Ten analysts have provided estimates for BioMarin Pharmaceutical’s earnings. The lowest sales estimate is $303.00 million and the highest is $321.06 million. BioMarin Pharmaceutical reported sales of $300.13 million in the same quarter last year, which indicates a positive year-over-year growth rate of 3%. The business is scheduled to report its next earnings report on Thursday, August 3rd.
On average, analysts expect that BioMarin Pharmaceutical will report full-year sales of $309.00 million for the current year, with estimates ranging from $1.25 billion to $1.31 billion. For the next financial year, analysts forecast that the company will post sales of $1.47 billion per share, with estimates ranging from $1.36 billion to $1.59 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover BioMarin Pharmaceutical.
BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Thursday, May 4th. The biotechnology company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.33. The company had revenue of $303.70 million for 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%. BioMarin Pharmaceutical’s revenue was up 28.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.53) EPS.
Several research analysts have weighed in on BMRN shares. Cowen and Company reiterated a “buy” rating and issued a $150.00 price target on shares of BioMarin Pharmaceutical in a research report on Friday, February 24th. 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 research report on Saturday, February 25th. Wedbush reiterated a “neutral” rating and issued a $102.00 price target on shares of BioMarin Pharmaceutical in a research report on Monday, February 27th. Vetr downgraded shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating and set a $102.51 price target on the stock. in a research report on Monday, February 27th. Finally, Nomura started coverage on shares of BioMarin Pharmaceutical in a research report on Wednesday, March 1st. They issued a “neutral” rating on the stock. Eight analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. BioMarin Pharmaceutical has a consensus rating of “Buy” and an average target price of $111.69.
Shares of BioMarin Pharmaceutical (NASDAQ BMRN) opened at 93.31 on Wednesday. BioMarin Pharmaceutical has a 12-month low of $73.45 and a 12-month high of $102.49. The company has a 50 day moving average of $90.61 and a 200-day moving average of $88.92. The company’s market cap is $16.28 billion.
In other news, EVP Jeffrey Robert Ajer sold 302 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $96.74, for a total value of $29,215.48. Following the completion of the sale, the executive vice president now owns 51,834 shares in the company, valued at approximately $5,014,421.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Brian Mueller sold 7,482 shares of the business’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $91.87, for a total transaction of $687,371.34. Following the completion of the sale, the senior vice president now owns 18,350 shares of the company’s stock, valued at approximately $1,685,814.50. The disclosure for this sale can be found here. Insiders have sold a total of 83,399 shares of company stock valued at $7,665,289 in the last quarter. 2.50% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the stock. Parallel Advisors LLC raised its stake in BioMarin Pharmaceutical by 13.6% in the first quarter. Parallel Advisors LLC now owns 1,042 shares of the biotechnology company’s stock valued at $100,000 after buying an additional 125 shares in the last quarter. Nikko Asset Management Americas Inc. acquired a new stake in BioMarin Pharmaceutical during the first quarter valued at approximately $114,000. Global X Management Co. LLC raised its stake in BioMarin Pharmaceutical by 59.7% in the first quarter. Global X Management Co. LLC now owns 1,656 shares of the biotechnology company’s stock valued at $145,000 after buying an additional 619 shares in the last quarter. Toronto Dominion Bank raised its stake in BioMarin Pharmaceutical by 27.1% in the first quarter. Toronto Dominion Bank now owns 1,881 shares of the biotechnology company’s stock valued at $165,000 after buying an additional 401 shares in the last quarter. Finally, Mutual of America Capital Management LLC raised its stake in BioMarin Pharmaceutical by 20.0% in the first quarter. Mutual of America Capital Management LLC now owns 2,066 shares of the biotechnology company’s stock valued at $181,000 after buying an additional 344 shares in the last quarter. Institutional investors and hedge funds own 96.61% of the company’s stock.
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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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