BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Expected to Post Quarterly Sales of $505.11 Million

Equities analysts forecast that BioMarin Pharmaceutical Inc. (NASDAQ:BMRNGet Rating) will post sales of $505.11 million for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have made estimates for BioMarin Pharmaceutical’s earnings, with the lowest sales estimate coming in at $464.61 million and the highest estimate coming in at $559.00 million. BioMarin Pharmaceutical posted sales of $486.03 million during the same quarter last year, which would indicate a positive year over year growth rate of 3.9%. The firm is scheduled to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that BioMarin Pharmaceutical will report full-year sales of $2.10 billion for the current year, with estimates ranging from $1.92 billion to $2.20 billion. For the next financial year, analysts forecast that the business will report sales of $2.67 billion, with estimates ranging from $2.21 billion to $2.97 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover BioMarin Pharmaceutical.

BioMarin Pharmaceutical (NASDAQ:BMRNGet Rating) last posted its quarterly earnings data on Wednesday, February 23rd. The biotechnology company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.01. BioMarin Pharmaceutical had a positive return on equity of 1.32% and a negative net margin of 3.47%. The business had revenue of $449.81 million for the quarter, compared to analysts’ expectations of $442.38 million. During the same quarter last year, the firm earned ($0.05) earnings per share. The business’s revenue was down .5% on a year-over-year basis.

Several brokerages recently weighed in on BMRN. StockNews.com began coverage on BioMarin Pharmaceutical in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Truist Financial increased their target price on BioMarin Pharmaceutical from $125.00 to $135.00 in a research report on Monday, January 10th. Wedbush reaffirmed an “outperform” rating and issued a $155.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, February 24th. Piper Sandler increased their target price on BioMarin Pharmaceutical from $121.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, February 24th. Finally, Morgan Stanley raised their price objective on BioMarin Pharmaceutical from $90.00 to $96.00 and gave the company an “equal weight” rating in a research report on Tuesday. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, BioMarin Pharmaceutical currently has a consensus rating of “Buy” and a consensus target price of $112.14.

In other news, Director V Bryan Lawlis sold 4,250 shares of the firm’s stock in a transaction dated Friday, January 14th. The stock was sold at an average price of $87.61, for a total transaction of $372,342.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeffrey Robert Ajer sold 1,618 shares of BioMarin Pharmaceutical stock in a transaction dated Tuesday, March 29th. The stock was sold at an average price of $79.43, for a total value of $128,517.74. The disclosure for this sale can be found here. Insiders have sold 39,522 shares of company stock valued at $3,164,865 over the last 90 days. Insiders own 1.69% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its stake in BioMarin Pharmaceutical by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 2,399,343 shares of the biotechnology company’s stock worth $211,671,000 after purchasing an additional 76,459 shares in the last quarter. Norges Bank acquired a new position in BioMarin Pharmaceutical in the fourth quarter worth about $207,582,000. Adage Capital Partners GP L.L.C. grew its stake in BioMarin Pharmaceutical by 372.7% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,865,000 shares of the biotechnology company’s stock worth $164,773,000 after purchasing an additional 1,470,498 shares in the last quarter. California Public Employees Retirement System grew its stake in BioMarin Pharmaceutical by 8.3% in the third quarter. California Public Employees Retirement System now owns 1,403,799 shares of the biotechnology company’s stock worth $108,500,000 after purchasing an additional 107,359 shares in the last quarter. Finally, Northern Trust Corp grew its stake in BioMarin Pharmaceutical by 0.6% in the fourth quarter. Northern Trust Corp now owns 1,363,501 shares of the biotechnology company’s stock worth $120,465,000 after purchasing an additional 8,188 shares in the last quarter. Institutional investors and hedge funds own 91.71% of the company’s stock.

BMRN stock opened at $84.00 on Thursday. BioMarin Pharmaceutical has a 52-week low of $71.59 and a 52-week high of $94.20. The stock’s fifty day simple moving average is $82.04 and its 200-day simple moving average is $83.02. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.77 and a current ratio of 4.21.

About BioMarin Pharmaceutical (Get Rating)

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.

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