BioMarin Pharmaceutical (BMRN) Scheduled to Post Earnings on Wednesday

BioMarin Pharmaceutical (NASDAQ:BMRN) will be announcing its earnings results after the market closes on Wednesday, April 24th. Analysts expect the company to announce earnings of $0.60 per share for the quarter. BioMarin Pharmaceutical has set its FY24 guidance at $2.60-2.80 EPS and its FY 2024 guidance at 2.600-2.800 EPS.Investors that wish to register for the company’s conference call can do so using this link.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Thursday, February 22nd. The biotechnology company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.05. The firm had revenue of $646.21 million during the quarter, compared to analysts’ expectations of $639.53 million. BioMarin Pharmaceutical had a return on equity of 5.01% and a net margin of 6.93%. The business’s quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.11 EPS. On average, analysts expect BioMarin Pharmaceutical to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

BioMarin Pharmaceutical Stock Up 1.0 %

BioMarin Pharmaceutical stock opened at $89.49 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.51 and a quick ratio of 1.57. The stock has a market capitalization of $16.89 billion, a price-to-earnings ratio of 101.69, a PEG ratio of 1.64 and a beta of 0.31. BioMarin Pharmaceutical has a 1-year low of $76.02 and a 1-year high of $99.56. The business has a fifty day moving average price of $87.64 and a 200-day moving average price of $89.18.

Insider Activity at BioMarin Pharmaceutical

In related news, Director Jean Jacques Bienaime sold 15,000 shares of BioMarin Pharmaceutical stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $88.28, for a total value of $1,324,200.00. Following the completion of the transaction, the director now owns 419,602 shares in the company, valued at approximately $37,042,464.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CAO Erin Burkhart sold 2,286 shares of BioMarin Pharmaceutical stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $90.00, for a total value of $205,740.00. Following the completion of the transaction, the chief accounting officer now owns 16,156 shares in the company, valued at approximately $1,454,040. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jean Jacques Bienaime sold 15,000 shares of BioMarin Pharmaceutical stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $88.28, for a total value of $1,324,200.00. Following the completion of the transaction, the director now owns 419,602 shares of the company’s stock, valued at approximately $37,042,464.56. The disclosure for this sale can be found here. Insiders sold a total of 103,229 shares of company stock worth $9,062,967 in the last 90 days. Corporate insiders own 1.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on BMRN shares. Robert W. Baird lowered their price objective on BioMarin Pharmaceutical from $127.00 to $104.00 and set an “outperform” rating for the company in a research report on Tuesday, January 30th. Piper Sandler lowered their price target on BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating for the company in a research report on Friday, February 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $100.00 price target on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $100.00 price target on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and set a $91.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 29th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $107.61.

BioMarin Pharmaceutical Company Profile

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.