Zacks Research Has Strong Estimate for BMRN FY2024 Earnings

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) – Equities researchers at Zacks Research upped their FY2024 earnings per share estimates for BioMarin Pharmaceutical in a report released on Tuesday, November 19th. Zacks Research analyst S. Ganoria now forecasts that the biotechnology company will post earnings of $2.46 per share for the year, up from their previous estimate of $2.32. The consensus estimate for BioMarin Pharmaceutical’s current full-year earnings is $2.47 per share. Zacks Research also issued estimates for BioMarin Pharmaceutical’s Q4 2024 earnings at $0.49 EPS, Q3 2025 earnings at $0.72 EPS, Q4 2025 earnings at $0.66 EPS, FY2025 earnings at $2.65 EPS and Q3 2026 earnings at $0.86 EPS.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.23). The business had revenue of $746.00 million for the quarter, compared to analyst estimates of $703.37 million. BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The business’s quarterly revenue was up 28.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.26 earnings per share.

A number of other equities research analysts also recently weighed in on the company. Royal Bank of Canada restated a “sector perform” rating and issued a $80.00 target price on shares of BioMarin Pharmaceutical in a research report on Wednesday, October 30th. Barclays dropped their price target on BioMarin Pharmaceutical from $110.00 to $86.00 and set an “overweight” rating on the stock in a report on Friday, October 4th. Cantor Fitzgerald dropped their price target on BioMarin Pharmaceutical from $110.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Wolfe Research started coverage on BioMarin Pharmaceutical in a report on Friday, November 15th. They issued an “outperform” rating and a $95.00 price target on the stock. Finally, Canaccord Genuity Group dropped their price target on BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $94.20.

BioMarin Pharmaceutical Stock Performance

BMRN opened at $64.26 on Friday. The company has a market capitalization of $12.25 billion, a price-to-earnings ratio of 38.48, a price-to-earnings-growth ratio of 0.61 and a beta of 0.31. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 2.62. BioMarin Pharmaceutical has a 1-year low of $61.15 and a 1-year high of $99.56. The business has a 50 day moving average price of $68.25 and a two-hundred day moving average price of $78.47.

Insider Transactions at BioMarin Pharmaceutical

In related news, EVP Charles Greg Guyer sold 5,278 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total value of $350,300.86. Following the completion of the sale, the executive vice president now directly owns 68,909 shares in the company, valued at approximately $4,573,490.33. This represents a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.85% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BioMarin Pharmaceutical

A number of large investors have recently bought and sold shares of the business. Virtu Financial LLC bought a new stake in BioMarin Pharmaceutical in the third quarter worth $809,000. TD Private Client Wealth LLC boosted its holdings in BioMarin Pharmaceutical by 57.4% in the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 186 shares in the last quarter. Toronto Dominion Bank boosted its holdings in BioMarin Pharmaceutical by 31.3% in the third quarter. Toronto Dominion Bank now owns 23,942 shares of the biotechnology company’s stock worth $1,683,000 after purchasing an additional 5,711 shares in the last quarter. Neo Ivy Capital Management boosted its holdings in BioMarin Pharmaceutical by 2,225.2% in the third quarter. Neo Ivy Capital Management now owns 21,020 shares of the biotechnology company’s stock worth $1,478,000 after purchasing an additional 20,116 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in BioMarin Pharmaceutical by 1.9% during the third quarter. Geode Capital Management LLC now owns 3,260,050 shares of the biotechnology company’s stock valued at $228,632,000 after acquiring an additional 60,692 shares during the period. 98.71% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Company Profile

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.