Brokerages expect BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) to announce $444.86 million in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for BioMarin Pharmaceutical’s earnings. The lowest sales estimate is $412.21 million and the highest is $482.40 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 results on Wednesday, May 5th.
According to Zacks, analysts expect that BioMarin Pharmaceutical will report full-year sales of $1.82 billion for the current financial year, with estimates ranging from $1.75 billion to $1.90 billion. For the next fiscal year, analysts forecast that the business will post sales of $2.19 billion, with estimates ranging from $1.87 billion to $2.41 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for BioMarin Pharmaceutical.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Thursday, February 25th. The biotechnology company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.18. BioMarin Pharmaceutical had a net margin of 45.74% and a return on equity of 4.34%. The firm had revenue of $452.12 million during the quarter, compared to analyst estimates of $447.17 million.
Several research firms have recently weighed in on BMRN. Evercore ISI upgraded shares of BioMarin Pharmaceutical from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $90.00 to $100.00 in a research note on Monday, March 8th. Canaccord Genuity reduced their price target on shares of BioMarin Pharmaceutical from $95.00 to $91.00 and set a “buy” rating for the company in a research report on Monday, March 8th. Robert W. Baird reissued a “buy” rating on shares of BioMarin Pharmaceutical in a research report on Monday, March 1st. Finally, Wedbush reissued an “outperform” rating and issued a $139.00 price target on shares of BioMarin Pharmaceutical in a research report on Tuesday, March 23rd. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $117.87.
In related news, CFO Brian Mueller sold 5,692 shares of the company’s stock in a transaction that occurred on Thursday, April 1st. The stock was sold at an average price of $76.30, for a total transaction of $434,299.60. Following the completion of the transaction, the chief financial officer now owns 31,016 shares in the company, valued at $2,366,520.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jean Jacques Bienaime sold 8,334 shares of the stock in a transaction on Friday, January 29th. The stock was sold at an average price of $82.67, for a total value of $688,971.78. Following the completion of the transaction, the chief executive officer now owns 303,885 shares of the company’s stock, valued at approximately $25,122,172.95. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,385 shares of company stock valued at $4,335,452. Insiders own 2.15% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Westside Investment Management Inc. bought a new position in BioMarin Pharmaceutical in the fourth quarter worth $31,000. Freedman Financial Associates Inc. bought a new position in BioMarin Pharmaceutical in the fourth quarter worth $33,000. Steward Partners Investment Advisory LLC raised its holdings in BioMarin Pharmaceutical by 189.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 425 shares of the biotechnology company’s stock worth $37,000 after purchasing an additional 278 shares in the last quarter. Ellevest Inc. increased its holdings in shares of BioMarin Pharmaceutical by 284.6% during the fourth quarter. Ellevest Inc. now owns 450 shares of the biotechnology company’s stock valued at $39,000 after acquiring an additional 333 shares in the last quarter. Finally, CKW Financial Group increased its holdings in shares of BioMarin Pharmaceutical by 80.0% during the fourth quarter. CKW Financial Group now owns 450 shares of the biotechnology company’s stock valued at $39,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 97.65% of the company’s stock.
Shares of NASDAQ:BMRN traded down $0.12 during mid-day trading on Friday, hitting $76.95. The company had a trading volume of 11,670 shares, compared to its average volume of 1,326,864. The firm has a fifty day moving average price of $77.98 and a 200 day moving average price of $80.45. The company has a market capitalization of $13.99 billion, a PE ratio of 17.64, a price-to-earnings-growth 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 one year low of $71.35 and a one year high of $131.95.
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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