Wall Street analysts forecast that BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) will report sales of $387.61 million for the current fiscal quarter, according to Zacks. Eleven analysts have provided estimates for BioMarin Pharmaceutical’s earnings. The lowest sales estimate is $379.00 million and the highest is $397.50 million. BioMarin Pharmaceutical posted sales of $373.45 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 3.8%. The firm is scheduled to announce its next earnings results after the market closes on Thursday, April 25th.
According to Zacks, analysts expect that BioMarin Pharmaceutical will report full-year sales of $1.69 billion for the current fiscal year, with estimates ranging from $1.66 billion to $1.71 billion. For the next financial year, analysts expect that the company will report sales of $1.95 billion, with estimates ranging from $1.78 billion to $2.11 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow BioMarin Pharmaceutical.
BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Thursday, February 21st. The biotechnology company reported ($0.02) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.07. The company had revenue of $353.00 million for the quarter, compared to the consensus estimate of $377.35 million. BioMarin Pharmaceutical had a negative return on equity of 2.79% and a negative net margin of 5.18%. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.03 EPS.
A number of research firms recently issued reports on BMRN. BidaskClub raised BioMarin Pharmaceutical from a “sell” rating to a “hold” rating in a research report on Saturday, January 19th. Wedbush reissued an “outperform” rating and set a $127.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, February 7th. ValuEngine raised BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research report on Friday, March 1st. Cantor Fitzgerald boosted their price target on BioMarin Pharmaceutical to $131.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Finally, Zacks Investment Research lowered BioMarin Pharmaceutical from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company. BioMarin Pharmaceutical presently has an average rating of “Buy” and an average price target of $114.82.
In other news, CEO Jean Jacques Bienaime sold 4,000 shares of the business’s stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $95.20, for a total transaction of $380,800.00. Following the completion of the sale, the chief executive officer now directly owns 292,290 shares of the company’s stock, valued at $27,826,008. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director V Bryan Lawlis sold 2,150 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $89.76, for a total transaction of $192,984.00. Following the completion of the sale, the director now directly owns 21,310 shares of the company’s stock, valued at $1,912,785.60. The disclosure for this sale can be found here. Insiders have sold 94,011 shares of company stock worth $8,588,208 in the last quarter. Company insiders own 1.90% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Financial Gravity Wealth Inc. purchased a new stake in BioMarin Pharmaceutical in the 1st quarter worth approximately $194,000. Gulf International Bank UK Ltd grew its holdings in BioMarin Pharmaceutical by 1.3% in the 1st quarter. Gulf International Bank UK Ltd now owns 45,360 shares of the biotechnology company’s stock worth $4,029,000 after acquiring an additional 600 shares during the last quarter. IFM Investors Pty Ltd grew its holdings in BioMarin Pharmaceutical by 15.1% in the 1st quarter. IFM Investors Pty Ltd now owns 11,770 shares of the biotechnology company’s stock worth $1,046,000 after acquiring an additional 1,545 shares during the last quarter. Appleton Partners Inc. MA lifted its position in shares of BioMarin Pharmaceutical by 26.7% in the 1st quarter. Appleton Partners Inc. MA now owns 6,389 shares of the biotechnology company’s stock worth $568,000 after purchasing an additional 1,348 shares during the period. Finally, CMH Wealth Management LLC lifted its position in shares of BioMarin Pharmaceutical by 105.6% in the 1st quarter. CMH Wealth Management LLC now owns 27,283 shares of the biotechnology company’s stock worth $2,424,000 after purchasing an additional 14,010 shares during the period.
Shares of BMRN stock opened at $83.71 on Tuesday. BioMarin Pharmaceutical has a 1-year low of $79.13 and a 1-year high of $106.74. The company has a current ratio of 3.93, a quick ratio of 2.92 and a debt-to-equity ratio of 0.28. The firm has a market cap of $15.03 billion, a PE ratio of -253.67 and a beta of 1.51.
About BioMarin Pharmaceutical
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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