Q1 2023 Earnings Estimate for BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Issued By Oppenheimer

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Get Rating) – Research analysts at Oppenheimer decreased their Q1 2023 earnings per share (EPS) estimates for BioMarin Pharmaceutical in a report issued on Tuesday, February 28th. Oppenheimer analyst L. Gershell now forecasts that the biotechnology company will post earnings of $0.35 per share for the quarter, down from their prior estimate of $0.54. Oppenheimer has a “Market Perform” rating on the stock. The consensus estimate for BioMarin Pharmaceutical’s current full-year earnings is $1.26 per share. Oppenheimer also issued estimates for BioMarin Pharmaceutical’s Q2 2023 earnings at $0.27 EPS, Q3 2023 earnings at $0.11 EPS, Q4 2023 earnings at $0.41 EPS, FY2023 earnings at $1.17 EPS and FY2024 earnings at $1.87 EPS.

Other research analysts also recently issued reports about the company. StockNews.com downgraded BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a report on Wednesday. BMO Capital Markets began coverage on BioMarin Pharmaceutical in a report on Monday, January 30th. They issued a “market perform” rating and a $107.00 price target for the company. Bank of America boosted their price target on BioMarin Pharmaceutical to $200.00 in a report on Wednesday, January 4th. Citigroup initiated coverage on BioMarin Pharmaceutical in a research report on Tuesday, February 21st. They issued a “neutral” rating and a $116.00 price objective for the company. Finally, Wedbush cut their price objective on BioMarin Pharmaceutical from $83.00 to $74.00 and set a “neutral” rating for the company in a research report on Tuesday. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and an average target price of $120.37.

BioMarin Pharmaceutical Trading Up 1.1 %

Shares of NASDAQ:BMRN opened at $101.20 on Friday. BioMarin Pharmaceutical has a 12-month low of $70.73 and a 12-month high of $117.77. The company has a market capitalization of $18.88 billion, a PE ratio of 136.76 and a beta of 0.39. The business has a 50 day moving average of $108.45 and a two-hundred day moving average of $97.63. The company has a current ratio of 4.67, a quick ratio of 3.54 and a debt-to-equity ratio of 0.24.

Institutional Trading of BioMarin Pharmaceutical

Several large investors have recently added to or reduced their stakes in the stock. TCI Wealth Advisors Inc. grew its holdings in BioMarin Pharmaceutical by 68.0% in the 4th quarter. TCI Wealth Advisors Inc. now owns 247 shares of the biotechnology company’s stock valued at $26,000 after buying an additional 100 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of BioMarin Pharmaceutical by 2.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 5,454 shares of the biotechnology company’s stock valued at $564,000 after purchasing an additional 110 shares during the last quarter. Xponance Inc. lifted its stake in shares of BioMarin Pharmaceutical by 3.2% in the 3rd quarter. Xponance Inc. now owns 3,584 shares of the biotechnology company’s stock valued at $304,000 after purchasing an additional 112 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of BioMarin Pharmaceutical by 0.8% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,473 shares of the biotechnology company’s stock valued at $1,227,000 after purchasing an additional 117 shares during the last quarter. Finally, Amalgamated Bank lifted its stake in shares of BioMarin Pharmaceutical by 0.7% in the 4th quarter. Amalgamated Bank now owns 18,439 shares of the biotechnology company’s stock valued at $1,908,000 after purchasing an additional 123 shares during the last quarter. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Brian Mueller sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 13th. The stock was sold at an average price of $107.50, for a total transaction of $268,750.00. Following the completion of the sale, the chief financial officer now directly owns 27,746 shares in the company, valued at $2,982,695. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other BioMarin Pharmaceutical news, CEO Jean Jacques Bienaime sold 1,000 shares of the company’s stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $106.89, for a total value of $106,890.00. Following the completion of the sale, the chief executive officer now directly owns 320,424 shares in the company, valued at approximately $34,250,121.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Brian Mueller sold 2,500 shares of the company’s stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $107.50, for a total value of $268,750.00. Following the completion of the sale, the chief financial officer now owns 27,746 shares of the company’s stock, valued at $2,982,695. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 96,000 shares of company stock worth $10,875,740. 1.75% of the stock is owned by corporate insiders.

About BioMarin Pharmaceutical

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BioMarin Pharmaceutical, Inc engages in the development and commercialization of therapies for people with serious and life-threatening rare diseases and medical conditions. Its pipeline products include Valoctocogene roxaparvovec, Vosoritide, and BMN 307. The company was founded by John C. Klock, Christopher M.