Brokerages Anticipate BioMarin Pharmaceutical Inc. (BMRN) to Post -$0.09 Earnings Per Share
Equities analysts expect BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) to post ($0.09) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Ten analysts have made estimates for BioMarin Pharmaceutical’s earnings, with the lowest EPS estimate coming in at ($0.20) and the highest estimate coming in at ($0.02). BioMarin Pharmaceutical posted earnings of ($0.26) per share during the same quarter last year, which would suggest a positive year over year growth rate of 65.4%. The company is scheduled to report its next earnings report on Thursday, October 26th.
According to Zacks, analysts expect that BioMarin Pharmaceutical will report full-year earnings of ($0.71) per share for the current financial year, with EPS estimates ranging from ($0.85) to ($0.59). For the next financial year, analysts anticipate that the business will post earnings of ($0.24) per share, with EPS estimates ranging from ($0.72) to $0.48. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow BioMarin Pharmaceutical.
BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.01. BioMarin Pharmaceutical had a negative net margin of 15.54% and a negative return on equity of 5.77%. The business had revenue of $317.50 million for the quarter, compared to the consensus estimate of $311.41 million. During the same quarter in the previous year, the firm earned ($2.61) earnings per share. The company’s revenue for the quarter was up 5.8% on a year-over-year basis.
BMRN has been the topic of several recent research reports. Wedbush restated a “neutral” rating and issued a $108.00 price objective on shares of BioMarin Pharmaceutical in a research report on Monday, August 7th. Jefferies Group LLC restated a “buy” rating and issued a $116.00 price objective on shares of BioMarin Pharmaceutical in a research report on Monday, May 15th. Zacks Investment Research upgraded BioMarin Pharmaceutical from a “hold” rating to a “strong-buy” rating and set a $105.00 price objective on the stock in a research report on Monday, July 17th. Cowen and Company restated a “buy” rating on shares of BioMarin Pharmaceutical in a research report on Friday, August 4th. Finally, BidaskClub lowered BioMarin Pharmaceutical from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 17th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $109.22.
Shares of BioMarin Pharmaceutical (BMRN) traded down 0.36% during trading on Friday, reaching $90.10. 1,227,307 shares of the company’s stock traded hands. The stock’s market cap is $15.79 billion. The company has a 50 day moving average price of $86.10 and a 200-day moving average price of $89.49. BioMarin Pharmaceutical has a one year low of $78.42 and a one year high of $101.27.
In other news, insider Henry J. Fuchs sold 15,000 shares of the stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $90.00, for a total transaction of $1,350,000.00. Following the transaction, the insider now owns 141,422 shares in the company, valued at approximately $12,727,980. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director V Bryan Lawlis sold 3,750 shares of the stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $90.00, for a total value of $337,500.00. Following the transaction, the director now owns 19,660 shares in the company, valued at approximately $1,769,400. The disclosure for this sale can be found here. Insiders have sold a total of 31,265 shares of company stock worth $2,905,530 in the last quarter. Insiders own 2.50% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of BioMarin Pharmaceutical by 4.7% during the 2nd quarter. Vanguard Group Inc. now owns 14,345,027 shares of the biotechnology company’s stock valued at $1,302,816,000 after buying an additional 642,623 shares in the last quarter. Jennison Associates LLC raised its stake in BioMarin Pharmaceutical by 33.8% in the 2nd quarter. Jennison Associates LLC now owns 13,242,773 shares of the biotechnology company’s stock valued at $1,202,709,000 after purchasing an additional 3,348,168 shares during the last quarter. Primecap Management Co. CA raised its stake in BioMarin Pharmaceutical by 10.5% in the 1st quarter. Primecap Management Co. CA now owns 8,712,268 shares of the biotechnology company’s stock valued at $764,763,000 after purchasing an additional 826,320 shares during the last quarter. State Street Corp raised its stake in BioMarin Pharmaceutical by 6.9% in the 1st quarter. State Street Corp now owns 4,001,529 shares of the biotechnology company’s stock valued at $351,249,000 after purchasing an additional 258,417 shares during the last quarter. Finally, Palo Alto Investors LLC raised its stake in BioMarin Pharmaceutical by 21.5% in the 1st quarter. Palo Alto Investors LLC now owns 2,382,619 shares of the biotechnology company’s stock valued at $209,146,000 after purchasing an additional 422,400 shares during the last quarter. Hedge funds and other institutional investors own 97.42% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “Brokerages Anticipate BioMarin Pharmaceutical Inc. (BMRN) to Post -$0.09 Earnings Per Share” was first posted by American Banking News and is the property of of American Banking News. If you are accessing this story on another publication, it was illegally copied and reposted in violation of US and international trademark & copyright law. The legal version of this story can be read at https://www.americanbankingnews.com/2017/09/10/brokerages-anticipate-biomarin-pharmaceutical-inc-bmrn-to-post-0-09-earnings-per-share.html.
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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for BioMarin Pharmaceutical Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioMarin Pharmaceutical Inc. and related companies with MarketBeat.com's FREE daily email newsletter.