Brokerages Anticipate BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Will Post Earnings of -$0.01 Per Share

Wall Street analysts expect BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) to report ($0.01) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Nine analysts have issued estimates for BioMarin Pharmaceutical’s earnings, with the lowest EPS estimate coming in at ($0.21) and the highest estimate coming in at $0.13. BioMarin Pharmaceutical reported earnings of $0.21 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 104.8%. The firm is scheduled to announce its next quarterly earnings results on Thursday, February 24th.

On average, analysts expect that BioMarin Pharmaceutical will report full year earnings of $1.23 per share for the current financial year, with EPS estimates ranging from $1.02 to $1.36. For the next financial year, analysts anticipate that the company will post earnings of $1.91 per share, with EPS estimates ranging from $1.32 to $3.03. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow BioMarin Pharmaceutical.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Tuesday, October 26th. The biotechnology company reported ($0.20) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.25) by $0.05. The company had revenue of $408.74 million during the quarter, compared to the consensus estimate of $435.29 million. BioMarin Pharmaceutical had a net margin of 0.86% and a return on equity of 2.02%. The company’s revenue was down 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.29 EPS.

BMRN has been the subject of several research analyst reports. Robert W. Baird boosted their target price on shares of BioMarin Pharmaceutical from $101.00 to $112.00 and gave the stock an “outperform” rating in a research report on Tuesday. Stifel Nicolaus raised shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and boosted their target price for the stock from $86.00 to $96.00 in a research report on Thursday, September 9th. SVB Leerink boosted their target price on shares of BioMarin Pharmaceutical from $112.00 to $115.00 and gave the stock an “outperform” rating in a research report on Monday. Piper Sandler increased their price objective on shares of BioMarin Pharmaceutical from $119.00 to $121.00 and gave the stock an “overweight” rating in a research note on Thursday, October 28th. Finally, Wedbush reissued an “outperform” rating and issued a $152.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, October 28th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $107.53.

In other news, EVP Jeffrey Robert Ajer sold 2,739 shares of the firm’s stock in a transaction on Tuesday, October 26th. The stock was sold at an average price of $73.60, for a total transaction of $201,590.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.69% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lake Point Wealth Management bought a new position in BioMarin Pharmaceutical during the 2nd quarter valued at $33,000. Ancora Advisors LLC lifted its holdings in shares of BioMarin Pharmaceutical by 466.7% in the third quarter. Ancora Advisors LLC now owns 425 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 350 shares during the period. Itau Unibanco Holding S.A. acquired a new stake in shares of BioMarin Pharmaceutical in the second quarter valued at $34,000. Liberty Wealth Management LLC boosted its stake in BioMarin Pharmaceutical by 181.7% during the third quarter. Liberty Wealth Management LLC now owns 431 shares of the biotechnology company’s stock valued at $34,000 after buying an additional 278 shares in the last quarter. Finally, Sierra Capital LLC acquired a new position in BioMarin Pharmaceutical during the first quarter worth about $38,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

BMRN opened at $89.57 on Friday. The company has a 50-day moving average of $79.38 and a 200-day moving average of $79.42. The company has a market capitalization of $16.44 billion, a P/E ratio of 1,119.63, a PEG ratio of 9.81 and a beta of 0.52. BioMarin Pharmaceutical has a 1-year low of $71.59 and a 1-year high of $92.57. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.03 and a current ratio of 4.49.

BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical, Inc engages in the development and commercialization of therapies for people with serious and life-threatening rare diseases and medical conditions. Its pipeline products include Valoctocogene roxaparvovec, Vosoritide, and BMN 307. The company was founded by John C. Klock, Christopher M.

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

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