FY2022 EPS Estimates for BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Increased by Analyst

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Get Rating) – Equities research analysts at William Blair lifted their FY2022 earnings estimates for BioMarin Pharmaceutical in a research note issued on Monday, January 23rd. William Blair analyst T. Lugo now expects that the biotechnology company will earn $0.88 per share for the year, up from their previous estimate of $0.79. The consensus estimate for BioMarin Pharmaceutical’s current full-year earnings is $0.87 per share. William Blair also issued estimates for BioMarin Pharmaceutical’s FY2023 earnings at $2.62 EPS.

Several other brokerages also recently issued reports on BMRN. Oppenheimer raised shares of BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $92.00 to $110.00 in a research note on Monday, October 31st. TheStreet raised shares of BioMarin Pharmaceutical from a “c” rating to a “b-” rating in a research note on Thursday, October 27th. Royal Bank of Canada increased their price target on shares of BioMarin Pharmaceutical from $90.00 to $95.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 13th. Bank of America increased their price objective on shares of BioMarin Pharmaceutical to $200.00 in a research report on Wednesday, January 4th. Finally, Jefferies Financial Group increased their price objective on shares of BioMarin Pharmaceutical from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, November 29th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $120.12.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN opened at $113.82 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.54 and a current ratio of 5.15. The company has a market capitalization of $21.11 billion, a price-to-earnings ratio of 271.00 and a beta of 0.36. The company’s 50 day simple moving average is $103.98 and its 200 day simple moving average is $93.89. BioMarin Pharmaceutical has a 1 year low of $70.73 and a 1 year high of $114.80.

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

Insider Buying and Selling at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, EVP Jeffrey Robert Ajer sold 3,000 shares of the stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $86.12, for a total transaction of $258,360.00. Following the transaction, the executive vice president now directly owns 41,088 shares in the company, valued at approximately $3,538,498.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other BioMarin Pharmaceutical news, EVP Jeffrey Robert Ajer sold 3,000 shares of the stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $86.12, for a total transaction of $258,360.00. Following the transaction, the executive vice president now directly owns 41,088 shares in the company, valued at approximately $3,538,498.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brian Mueller sold 2,500 shares of the stock in a transaction on Friday, January 13th. The shares were sold at an average price of $114.50, for a total transaction of $286,250.00. Following the transaction, the chief financial officer now owns 27,746 shares in the company, valued at $3,176,917. The disclosure for this sale can be found here. Insiders have sold 44,380 shares of company stock worth $4,706,718 in the last ninety days. 1.75% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of BioMarin Pharmaceutical by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 17,108,289 shares of the biotechnology company’s stock worth $1,450,270,000 after buying an additional 263,453 shares during the last quarter. Parnassus Investments LLC lifted its position in shares of BioMarin Pharmaceutical by 2.0% in the 2nd quarter. Parnassus Investments LLC now owns 2,781,420 shares of the biotechnology company’s stock worth $230,496,000 after buying an additional 55,490 shares during the last quarter. UBS Asset Management Americas Inc. lifted its position in BioMarin Pharmaceutical by 0.7% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,562,365 shares of the biotechnology company’s stock valued at $129,473,000 after purchasing an additional 10,748 shares during the last quarter. Millennium Management LLC lifted its position in BioMarin Pharmaceutical by 17.2% in the 2nd quarter. Millennium Management LLC now owns 1,526,003 shares of the biotechnology company’s stock valued at $126,460,000 after purchasing an additional 224,011 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in BioMarin Pharmaceutical by 5.6% in the 2nd quarter. Legal & General Group Plc now owns 1,250,892 shares of the biotechnology company’s stock valued at $103,662,000 after purchasing an additional 66,683 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors.

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.