Equities analysts forecast that BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) will announce sales of $347.03 million for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have issued estimates for BioMarin Pharmaceutical’s earnings, with the highest sales estimate coming in at $357.61 million and the lowest estimate coming in at $330.61 million. BioMarin Pharmaceutical reported sales of $300.09 million during the same quarter last year, which indicates a positive year-over-year growth rate of 15.6%. The firm is scheduled to announce its next quarterly earnings report on Thursday, February 22nd.

According to Zacks, analysts expect that BioMarin Pharmaceutical will report full-year sales of $347.03 million for the current fiscal year, with estimates ranging from $1.29 billion to $1.31 billion. For the next financial year, analysts expect that the company will post sales of $1.48 billion per share, with estimates ranging from $1.45 billion to $1.53 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow BioMarin Pharmaceutical.

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

A number of brokerages have recently weighed in on BMRN. Zacks Investment Research cut shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Wednesday. Leerink Swann reissued an “outperform” rating and set a $142.00 price objective (up from $136.00) on shares of BioMarin Pharmaceutical in a research note on Thursday, October 19th. SunTrust Banks set a $115.00 target price on shares of BioMarin Pharmaceutical and gave the stock a “buy” rating in a research note on Thursday, October 19th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $113.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, September 21st. Finally, Wedbush raised shares of BioMarin Pharmaceutical from a “neutral” rating to an “outperform” rating and set a $110.00 target price for the company in a research note on Thursday, December 14th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $112.14.

BioMarin Pharmaceutical (NASDAQ BMRN) opened at $89.64 on Thursday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.81 and a current ratio of 4.91. BioMarin Pharmaceutical has a 12 month low of $80.10 and a 12 month high of $100.51. The firm has a market cap of $15,848.07, a P/E ratio of -99.60 and a beta of 1.82.

In other BioMarin Pharmaceutical news, CEO Jean Jacques Bienaime sold 20,000 shares of BioMarin Pharmaceutical stock in a transaction on Friday, December 29th. The shares were sold at an average price of $89.75, for a total value of $1,795,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP George Eric Davis sold 1,200 shares of BioMarin Pharmaceutical stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $85.64, for a total transaction of $102,768.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,750 shares of company stock worth $5,439,788. 1.85% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of BioMarin Pharmaceutical by 4.7% in 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 purchasing an additional 642,623 shares during the last quarter. Pictet Asset Management Ltd. boosted its holdings in shares of BioMarin Pharmaceutical by 17.0% in the 3rd quarter. Pictet Asset Management Ltd. now owns 1,134,622 shares of the biotechnology company’s stock valued at $105,599,000 after purchasing an additional 164,788 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of BioMarin Pharmaceutical by 2.9% in the 2nd quarter. Northern Trust Corp now owns 1,097,571 shares of the biotechnology company’s stock valued at $99,682,000 after purchasing an additional 31,113 shares during the last quarter. TCW Group Inc. boosted its holdings in shares of BioMarin Pharmaceutical by 20.1% in the 3rd quarter. TCW Group Inc. now owns 1,072,969 shares of the biotechnology company’s stock valued at $99,862,000 after purchasing an additional 179,879 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of BioMarin Pharmaceutical by 3.8% in the 3rd quarter. Legal & General Group Plc now owns 749,150 shares of the biotechnology company’s stock valued at $69,723,000 after purchasing an additional 27,752 shares during the last quarter. Institutional investors own 99.15% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This piece was published by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another website, it was illegally copied and reposted in violation of international trademark & copyright legislation. The correct version of this piece can be accessed at https://www.americanbankingnews.com/2018/01/18/347-03-million-in-sales-expected-for-biomarin-pharmaceutical-inc-bmrn-this-quarter.html.

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).

Get a free copy of the Zacks research report on BioMarin Pharmaceutical (BMRN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for BioMarin Pharmaceutical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioMarin Pharmaceutical and related companies with MarketBeat.com's FREE daily email newsletter.