$515.44 Million in Sales Expected for BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) This Quarter

Wall Street analysts expect BioMarin Pharmaceutical Inc. (NASDAQ:BMRNGet Rating) to report $515.44 million in sales for the current fiscal quarter, according to Zacks. Ten analysts have provided estimates for BioMarin Pharmaceutical’s earnings, with the highest sales estimate coming in at $545.45 million and the lowest estimate coming in at $495.84 million. BioMarin Pharmaceutical reported sales of $501.69 million in the same quarter last year, which indicates a positive year over year growth rate of 2.7%. The business is scheduled to report its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that BioMarin Pharmaceutical will report full-year sales of $2.10 billion for the current fiscal year, with estimates ranging from $2.05 billion to $2.12 billion. For the next fiscal year, analysts forecast that the business will post sales of $2.68 billion, with estimates ranging from $2.24 billion to $2.98 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for BioMarin Pharmaceutical.

BioMarin Pharmaceutical (NASDAQ:BMRNGet Rating) last released its earnings results on Wednesday, April 27th. The biotechnology company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.16. BioMarin Pharmaceutical had a net margin of 2.09% and a return on equity of 1.36%. The business had revenue of $519.36 million during the quarter, compared to analyst estimates of $505.11 million. During the same quarter in the prior year, the firm earned $0.29 earnings per share.

Several analysts have recently weighed in on BMRN shares. Morgan Stanley upgraded shares of BioMarin Pharmaceutical from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $96.00 to $113.00 in a research report on Monday, April 25th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $100.00 target price on shares of BioMarin Pharmaceutical in a report on Wednesday, May 4th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $96.00 target price on shares of BioMarin Pharmaceutical in a report on Tuesday, May 3rd. Wedbush dropped their price objective on shares of BioMarin Pharmaceutical from $155.00 to $147.00 in a research note on Thursday, April 28th. Finally, Piper Sandler upped their price target on shares of BioMarin Pharmaceutical from $121.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, February 24th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $111.93.

NASDAQ BMRN opened at $78.78 on Wednesday. BioMarin Pharmaceutical has a one year low of $71.59 and a one year high of $94.20. The firm has a 50 day simple moving average of $80.46 and a 200-day simple moving average of $83.60. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.28 and a current ratio of 4.88. The firm has a market cap of $14.57 billion, a price-to-earnings ratio of 437.67, a PEG ratio of 1.66 and a beta of 0.41.

In other news, CFO Brian Mueller sold 11,800 shares of the business’s stock in a transaction that occurred on Wednesday, May 4th. The stock was sold at an average price of $84.50, for a total transaction of $997,100.00. Following the sale, the chief financial officer now directly owns 38,639 shares in the company, valued at $3,264,995.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Jeffrey Robert Ajer sold 1,180 shares of the business’s stock in a transaction that occurred on Wednesday, April 13th. The shares were sold at an average price of $82.47, for a total value of $97,314.60. Following the sale, the executive vice president now owns 55,077 shares in the company, valued at $4,542,200.19. The disclosure for this sale can be found here. Insiders have sold a total of 131,727 shares of company stock valued at $10,786,429 over the last 90 days. Corporate insiders own 1.75% of the company’s stock.

A number of institutional investors have recently bought and sold shares of BMRN. Norges Bank acquired a new position in shares of BioMarin Pharmaceutical during the fourth quarter worth about $207,582,000. Adage Capital Partners GP L.L.C. increased its stake in shares of BioMarin Pharmaceutical by 372.7% during 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 during the period. Perceptive Advisors LLC bought a new position in BioMarin Pharmaceutical during the 4th quarter worth $104,253,000. Camber Capital Management LP bought a new position in BioMarin Pharmaceutical during the 3rd quarter worth $88,884,000. Finally, Viking Global Investors LP boosted its holdings in shares of BioMarin Pharmaceutical by 30.7% in the 1st quarter. Viking Global Investors LP now owns 3,752,393 shares of the biotechnology company’s stock valued at $289,310,000 after purchasing an additional 882,446 shares in the last quarter. 95.45% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Company Profile (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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