BioMarin Pharmaceutical Inc. to Post FY2021 Earnings of $0.35 Per Share, SunTrust Banks Forecasts (BMRN)

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) – Equities research analysts at SunTrust Banks upped their FY2021 earnings per share estimates for BioMarin Pharmaceutical in a report issued on Monday. SunTrust Banks analyst E. Nash now anticipates that the biotechnology company will post earnings of $0.35 per share for the year, up from their prior estimate of $0.28. SunTrust Banks has a “Buy” rating and a $115.00 price objective on the stock.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Thursday, October 26th. The biotechnology company reported ($0.07) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.06. BioMarin Pharmaceutical had a negative return on equity of 4.60% and a negative net margin of 12.45%. The business had revenue of $334.18 million during the quarter, compared to analysts’ expectations of $347.38 million. During the same quarter in the prior year, the business earned $0.02 earnings per share. The company’s quarterly revenue was up 19.4% compared to the same quarter last year.

Other equities research analysts have also recently issued research reports about the company. BMO Capital Markets restated a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Friday, September 15th. Citigroup initiated coverage on BioMarin Pharmaceutical in a research report on Thursday, August 31st. They issued a “buy” rating and a $98.00 price objective for the company. Jefferies Group set a $116.00 price objective on BioMarin Pharmaceutical and gave the stock a “buy” rating in a research report on Friday, August 25th. Deutsche Bank reiterated a “buy” rating and issued a $119.00 price objective (up previously from $118.00) on shares of BioMarin Pharmaceutical in a research report on Wednesday, August 9th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $107.00 price objective on shares of BioMarin Pharmaceutical in a research report on Friday, August 4th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $111.59.

BioMarin Pharmaceutical (BMRN) traded up $2.53 during trading on Wednesday, hitting $85.80. The stock had a trading volume of 1,101,982 shares, compared to its average volume of 1,228,174. BioMarin Pharmaceutical has a twelve month low of $79.50 and a twelve month high of $100.51. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.91 and a quick ratio of 3.81.

In other BioMarin Pharmaceutical news, EVP Robert Baffi sold 18,415 shares of the company’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $92.43, for a total value of $1,702,098.45. Following the sale, the executive vice president now owns 129,083 shares of the company’s stock, valued at $11,931,141.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director V Bryan Lawlis sold 3,750 shares of the company’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $91.26, for a total value of $342,225.00. Following the completion of the sale, the director now directly owns 19,660 shares in the company, valued at approximately $1,794,171.60. The disclosure for this sale can be found here. Insiders sold 40,686 shares of company stock worth $3,736,318 in the last three months. 1.85% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of BMRN. Jennison Associates LLC grew its holdings in BioMarin Pharmaceutical by 33.8% in the second 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. TIAA CREF Investment Management LLC boosted its stake in shares of BioMarin Pharmaceutical by 63.7% during the second quarter. TIAA CREF Investment Management LLC now owns 2,251,011 shares of the biotechnology company’s stock valued at $204,437,000 after acquiring an additional 875,686 shares during the last quarter. USS Investment Management Ltd boosted its stake in shares of BioMarin Pharmaceutical by 214.7% during the second quarter. USS Investment Management Ltd now owns 1,089,933 shares of the biotechnology company’s stock valued at $98,988,000 after acquiring an additional 743,599 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of BioMarin Pharmaceutical by 4.7% during the second quarter. Vanguard Group Inc. now owns 14,345,027 shares of the biotechnology company’s stock valued at $1,302,816,000 after acquiring an additional 642,623 shares during the last quarter. Finally, Teachers Advisors LLC boosted its stake in shares of BioMarin Pharmaceutical by 41.7% during the second quarter. Teachers Advisors LLC now owns 973,291 shares of the biotechnology company’s stock valued at $88,394,000 after acquiring an additional 286,249 shares during the last quarter. 99.31% of the stock is currently owned by institutional investors.

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BioMarin Pharmaceutical Company Profile

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).

Earnings History and Estimates for BioMarin Pharmaceutical (NASDAQ:BMRN)

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