BioMarin Pharmaceutical Inc. to Post FY2022 Earnings of $0.82 Per Share, Cantor Fitzgerald Forecasts (NASDAQ:BMRN)

BioMarin Pharmaceutical Inc. (NASDAQ:BMRNGet Rating) – Analysts at Cantor Fitzgerald cut their FY2022 EPS estimates for BioMarin Pharmaceutical in a research report issued on Monday, January 23rd. Cantor Fitzgerald analyst O. Brayer now anticipates that the biotechnology company will post earnings of $0.82 per share for the year, down from their prior estimate of $0.88. The consensus estimate for BioMarin Pharmaceutical’s current full-year earnings is $0.87 per share. Cantor Fitzgerald also issued estimates for BioMarin Pharmaceutical’s FY2023 earnings at $2.66 EPS.

BioMarin Pharmaceutical (NASDAQ:BMRNGet Rating) last posted its quarterly earnings results on Wednesday, October 26th. The biotechnology company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.04. BioMarin Pharmaceutical had a net margin of 4.18% and a return on equity of 2.50%. The firm had revenue of $505.30 million for the quarter, compared to analyst estimates of $516.03 million. During the same period in the prior year, the firm posted ($0.03) earnings per share. The company’s quarterly revenue was up 23.6% compared to the same quarter last year.

Other equities analysts also recently issued reports about the stock. TheStreet upgraded shares of BioMarin Pharmaceutical from a “c” rating to a “b-” rating in a report on Thursday, October 27th. Stifel Nicolaus upped their price target on shares of BioMarin Pharmaceutical to $104.00 in a research note on Wednesday, September 28th. Guggenheim upped their price target on shares of BioMarin Pharmaceutical from $120.00 to $125.00 in a research note on Monday, January 9th. Evercore ISI upped their price target on shares of BioMarin Pharmaceutical to $130.00 in a research note on Friday, December 2nd. Finally, Credit Suisse Group cut their price objective on shares of BioMarin Pharmaceutical from $111.00 to $110.00 and set an “outperform” rating for the company in a research report on Thursday, October 27th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $120.12.

BioMarin Pharmaceutical Stock Performance

NASDAQ BMRN opened at $113.82 on Wednesday. The company has a current ratio of 5.15, a quick ratio of 3.54 and a debt-to-equity ratio of 0.24. The firm’s fifty day moving average price is $103.98 and its two-hundred day moving average price is $93.89. BioMarin Pharmaceutical has a 1 year low of $70.73 and a 1 year high of $114.80. The firm has a market capitalization of $21.11 billion, a P/E ratio of 271.00 and a beta of 0.36.

Insider Transactions at BioMarin Pharmaceutical

In other news, CEO Jean Jacques Bienaime sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 13th. The shares were sold at an average price of $106.89, for a total transaction of $106,890.00. Following the completion of the sale, the chief executive officer now owns 320,424 shares of the company’s stock, valued at approximately $34,250,121.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other BioMarin Pharmaceutical news, Director Mark J. Alles purchased 3,625 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Monday, October 31st. The stock was acquired at an average price of $86.75 per share, with a total value of $314,468.75. Following the transaction, the director now owns 10,905 shares in the company, valued at approximately $946,008.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jean Jacques Bienaime sold 1,000 shares of BioMarin Pharmaceutical stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $106.89, for a total transaction of $106,890.00. Following the completion of the sale, the chief executive officer now directly owns 320,424 shares of the company’s stock, valued at approximately $34,250,121.36. The disclosure for this sale can be found here. Insiders sold a total of 44,380 shares of company stock valued at $4,706,718 in the last quarter. 1.75% of the stock is currently owned by company insiders.

Institutional Trading of BioMarin Pharmaceutical

Several hedge funds have recently bought and sold shares of BMRN. Raymond James Financial Services Advisors Inc. grew its position in BioMarin Pharmaceutical by 225.9% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 16,838 shares of the biotechnology company’s stock valued at $1,298,000 after purchasing an additional 11,672 shares during the period. American Century Companies Inc. boosted its holdings in BioMarin Pharmaceutical by 64.6% during the 1st quarter. American Century Companies Inc. now owns 11,312 shares of the biotechnology company’s stock worth $872,000 after acquiring an additional 4,440 shares during the last quarter. Cetera Advisor Networks LLC grew its stake in shares of BioMarin Pharmaceutical by 38.3% in the 1st quarter. Cetera Advisor Networks LLC now owns 5,525 shares of the biotechnology company’s stock worth $426,000 after acquiring an additional 1,530 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of BioMarin Pharmaceutical by 14.4% in the first quarter. PNC Financial Services Group Inc. now owns 8,362 shares of the biotechnology company’s stock valued at $644,000 after purchasing an additional 1,055 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its position in shares of BioMarin Pharmaceutical by 395.4% during the first quarter. Acadian Asset Management LLC now owns 431 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 344 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

BioMarin Pharmaceutical Company Profile

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BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; 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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