Wall Street analysts expect BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) to post $444.86 million in sales for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for BioMarin Pharmaceutical’s earnings, with the highest sales estimate coming in at $482.40 million and the lowest estimate coming in at $412.21 million. BioMarin Pharmaceutical reported sales of $502.07 million in the same quarter last year, which indicates a negative year over year growth rate of 11.4%. The firm is scheduled to announce its next earnings report on Wednesday, May 5th.
On average, analysts expect that BioMarin Pharmaceutical will report full year sales of $1.82 billion for the current year, with estimates ranging from $1.75 billion to $1.90 billion. For the next year, analysts expect that the business will report sales of $2.19 billion, with estimates ranging from $1.87 billion to $2.41 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover BioMarin Pharmaceutical.
BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Thursday, February 25th. The biotechnology company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.18. The business had revenue of $452.12 million for the quarter, compared to analysts’ expectations of $447.17 million. BioMarin Pharmaceutical had a net margin of 45.74% and a return on equity of 4.34%.
A number of research analysts recently issued reports on BMRN shares. Wedbush reissued an “outperform” rating and issued a $139.00 price objective on shares of BioMarin Pharmaceutical in a research note on Tuesday, March 23rd. Evercore ISI upgraded shares of BioMarin Pharmaceutical from an “in-line” rating to an “outperform” rating and raised their target price for the company from $90.00 to $100.00 in a research report on Monday, March 8th. Robert W. Baird restated a “buy” rating on shares of BioMarin Pharmaceutical in a research report on Monday, March 1st. Finally, Canaccord Genuity cut their target price on shares of BioMarin Pharmaceutical from $95.00 to $91.00 and set a “buy” rating on the stock in a research report on Monday, March 8th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $117.87.
In related news, CEO Jean Jacques Bienaime sold 8,333 shares of the company’s stock in a transaction that occurred on Wednesday, January 27th. The shares were sold at an average price of $85.49, for a total transaction of $712,388.17. Following the sale, the chief executive officer now directly owns 303,885 shares in the company, valued at approximately $25,979,128.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeffrey Robert Ajer sold 1,308 shares of the company’s stock in a transaction that occurred on Thursday, March 18th. The shares were sold at an average price of $77.99, for a total transaction of $102,010.92. Following the sale, the executive vice president now owns 64,133 shares in the company, valued at $5,001,732.67. The disclosure for this sale can be found here. Over the last quarter, insiders sold 53,385 shares of company stock worth $4,335,452. Corporate insiders own 2.15% of the company’s stock.
Several hedge funds have recently made changes to their positions in BMRN. Scout Investments Inc. increased its holdings in shares of BioMarin Pharmaceutical by 58.3% in the 1st quarter. Scout Investments Inc. now owns 480,377 shares of the biotechnology company’s stock worth $36,273,000 after buying an additional 176,955 shares during the last quarter. NuWave Investment Management LLC increased its holdings in shares of BioMarin Pharmaceutical by 550.0% in the 1st quarter. NuWave Investment Management LLC now owns 2,444 shares of the biotechnology company’s stock worth $185,000 after buying an additional 2,068 shares during the last quarter. Fulton Bank N.A. increased its holdings in shares of BioMarin Pharmaceutical by 11.9% in the 1st quarter. Fulton Bank N.A. now owns 3,839 shares of the biotechnology company’s stock worth $290,000 after buying an additional 408 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of BioMarin Pharmaceutical by 1.4% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 255,601 shares of the biotechnology company’s stock worth $22,051,000 after buying an additional 3,437 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of BioMarin Pharmaceutical during the 4th quarter valued at $2,208,000. Institutional investors own 97.65% of the company’s stock.
NASDAQ:BMRN traded down $0.12 during mid-day trading on Friday, reaching $76.95. The stock had a trading volume of 11,670 shares, compared to its average volume of 1,326,864. The stock has a 50-day simple moving average of $77.98 and a two-hundred day simple moving average of $80.45. The stock has a market capitalization of $13.99 billion, a PE ratio of 17.64, a P/E/G ratio of 3.89 and a beta of 0.71. The company has a debt-to-equity ratio of 0.26, a current ratio of 3.20 and a quick ratio of 2.38. BioMarin Pharmaceutical has a 12 month low of $71.35 and a 12 month high of $131.95.
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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