Brokerages forecast that BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) will report $410.84 million in sales for the current fiscal quarter, according to Zacks Investment Research. Eleven analysts have issued estimates for BioMarin Pharmaceutical’s earnings, with the highest sales estimate coming in at $421.90 million and the lowest estimate coming in at $399.30 million. BioMarin Pharmaceutical reported sales of $372.85 million in the same quarter last year, which would suggest a positive year over year growth rate of 10.2%. The company is scheduled to report its next earnings results on Thursday, August 1st.
According to Zacks, analysts expect that BioMarin Pharmaceutical will report full-year sales of $1.69 billion for the current year, with estimates ranging from $1.67 billion to $1.71 billion. For the next year, analysts expect that the company will post sales of $1.95 billion, with estimates ranging from $1.81 billion to $2.11 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow BioMarin Pharmaceutical.
BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results on Thursday, April 25th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.02. The firm had revenue of $400.70 million during the quarter, compared to analyst estimates of $389.95 million. BioMarin Pharmaceutical had a negative net margin of 5.90% and a negative return on equity of 2.97%. The business’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.12 earnings per share.
Several analysts recently weighed in on BMRN shares. ValuEngine downgraded BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a report on Wednesday, February 20th. Robert W. Baird set a $120.00 price objective on BioMarin Pharmaceutical and gave the company a “buy” rating in a report on Tuesday, April 2nd. Oppenheimer decreased their price objective on BioMarin Pharmaceutical from $92.00 to $81.00 in a report on Friday, February 22nd. BidaskClub upgraded BioMarin Pharmaceutical from a “strong sell” rating to a “sell” rating in a report on Thursday, February 28th. Finally, Barclays restated a “hold” rating and issued a $95.00 price objective on shares of BioMarin Pharmaceutical in a report on Sunday, February 24th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $116.00.
In other BioMarin Pharmaceutical news, insider Henry J. Fuchs sold 2,196 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $95.00, for a total value of $208,620.00. Following the completion of the transaction, the insider now directly owns 142,504 shares in the company, valued at $13,537,880. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jean Jacques Bienaime sold 4,000 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $82.16, for a total transaction of $328,640.00. Following the completion of the transaction, the chief executive officer now owns 326,520 shares of the company’s stock, valued at $26,826,883.20. The disclosure for this sale can be found here. Insiders sold 103,011 shares of company stock valued at $9,215,368 over the last quarter. 1.90% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in BMRN. Doyle Wealth Management acquired a new position in shares of BioMarin Pharmaceutical during the fourth quarter valued at about $26,000. Rational Advisors LLC increased its holdings in shares of BioMarin Pharmaceutical by 3,211.1% during the first quarter. Rational Advisors LLC now owns 298 shares of the biotechnology company’s stock valued at $26,000 after acquiring an additional 289 shares in the last quarter. Commonwealth Bank of Australia increased its holdings in shares of BioMarin Pharmaceutical by 49.6% during the fourth quarter. Commonwealth Bank of Australia now owns 350 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 116 shares in the last quarter. Lindbrook Capital LLC acquired a new position in shares of BioMarin Pharmaceutical during the fourth quarter valued at about $30,000. Finally, PRW Wealth Management LLC acquired a new position in shares of BioMarin Pharmaceutical during the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 99.55% of the company’s stock.
BMRN stock opened at $87.16 on Thursday. The company has a quick ratio of 2.76, a current ratio of 3.83 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $14.73 billion, a P/E ratio of -264.12 and a beta of 1.46. BioMarin Pharmaceutical has a 1-year low of $79.13 and a 1-year high of $106.74.
BioMarin Pharmaceutical Company Profile
BioMarin Pharmaceutical Inc, a biotechnology company, develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Aldurazyme to treat mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.
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