FY2024 EPS Estimates for BMRN Increased by Cantor Fitzgerald

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) – Stock analysts at Cantor Fitzgerald raised their FY2024 earnings per share (EPS) estimates for BioMarin Pharmaceutical in a report issued on Wednesday, October 30th. Cantor Fitzgerald analyst O. Brayer now anticipates that the biotechnology company will post earnings of $2.43 per share for the year, up from their prior forecast of $2.36. Cantor Fitzgerald currently has a “Overweight” rating and a $90.00 price objective on the stock. The consensus estimate for BioMarin Pharmaceutical’s current full-year earnings is $2.39 per share.

Several other equities analysts have also recently weighed in on BMRN. TD Cowen cut their price objective on BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Piper Sandler boosted their price objective on BioMarin Pharmaceutical from $107.00 to $122.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Raymond James reissued an “outperform” rating and set a $79.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, October 10th. Citigroup cut their price objective on BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Evercore ISI cut their price objective on BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $93.67.

BioMarin Pharmaceutical Price Performance

NASDAQ BMRN opened at $66.60 on Thursday. BioMarin Pharmaceutical has a twelve month low of $65.35 and a twelve month high of $99.56. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.95 and a current ratio of 4.27. The stock has a market capitalization of $12.65 billion, a PE ratio of 39.88, a P/E/G ratio of 0.77 and a beta of 0.31. The stock has a 50-day simple moving average of $75.13 and a 200 day simple moving average of $80.67.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The company had revenue of $746.00 million during the quarter, compared to analyst estimates of $703.37 million. During the same period in the prior year, the firm earned $0.26 EPS. BioMarin Pharmaceutical’s quarterly revenue was up 28.4% on a year-over-year basis.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Large investors have recently modified their holdings of the stock. AGF Management Ltd. bought a new stake in BioMarin Pharmaceutical during the 2nd quarter worth approximately $2,563,000. Susquehanna Fundamental Investments LLC bought a new stake in BioMarin Pharmaceutical during the 2nd quarter worth approximately $5,627,000. Teachers Retirement System of The State of Kentucky grew its position in BioMarin Pharmaceutical by 17.4% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 194,207 shares of the biotechnology company’s stock worth $15,990,000 after acquiring an additional 28,837 shares during the last quarter. E Fund Management Co. Ltd. grew its position in BioMarin Pharmaceutical by 167.4% during the 2nd quarter. E Fund Management Co. Ltd. now owns 13,480 shares of the biotechnology company’s stock worth $1,110,000 after acquiring an additional 8,438 shares during the last quarter. Finally, Tidal Investments LLC grew its position in BioMarin Pharmaceutical by 65.5% during the 1st quarter. Tidal Investments LLC now owns 17,447 shares of the biotechnology company’s stock worth $1,524,000 after acquiring an additional 6,906 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors.

About BioMarin Pharmaceutical

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.