Wall Street analysts forecast that BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) will report $369.43 million in sales for the current quarter, according to Zacks. Ten analysts have issued estimates for BioMarin Pharmaceutical’s earnings, with the lowest sales estimate coming in at $351.51 million and the highest estimate coming in at $382.70 million. BioMarin Pharmaceutical reported sales of $334.15 million in the same quarter last year, which indicates a positive year-over-year growth rate of 10.6%. The business is scheduled to report its next quarterly earnings report after the market closes on Thursday, October 25th.
On average, analysts expect that BioMarin Pharmaceutical will report full-year sales of $1.51 billion for the current year, with estimates ranging from $1.49 billion to $1.53 billion. For the next year, analysts expect that the firm will report sales of $1.72 billion, with estimates ranging from $1.65 billion to $1.78 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow BioMarin Pharmaceutical.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Thursday, August 2nd. The biotechnology company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.03). BioMarin Pharmaceutical had a negative net margin of 8.68% and a negative return on equity of 3.00%. The business had revenue of $372.80 million during the quarter, compared to analyst estimates of $359.25 million. During the same quarter last year, the company posted ($0.21) earnings per share. The company’s revenue was up 17.4% on a year-over-year basis.
A number of brokerages have issued reports on BMRN. Jefferies Financial Group increased their price objective on shares of BioMarin Pharmaceutical to $125.00 and gave the stock a “buy” rating in a research note on Tuesday. They noted that the move was a valuation call. Cantor Fitzgerald set a $126.00 price objective on shares of BioMarin Pharmaceutical and gave the stock a “buy” rating in a research note on Monday. BidaskClub upgraded shares of BioMarin Pharmaceutical from a “sell” rating to a “hold” rating in a research note on Tuesday, October 9th. Zacks Investment Research downgraded shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Friday, October 5th. Finally, ValuEngine upgraded shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research note on Wednesday, October 3rd. Five investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $116.61.
BMRN stock opened at $103.82 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.24 and a current ratio of 2.83. BioMarin Pharmaceutical has a 52 week low of $75.81 and a 52 week high of $106.74. The stock has a market capitalization of $17.22 billion, a P/E ratio of -157.91 and a beta of 1.61.
In other news, EVP Robert Baffi sold 5,173 shares of the stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $105.00, for a total value of $543,165.00. Following the completion of the transaction, the executive vice president now owns 83,276 shares of the company’s stock, valued at $8,743,980. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeffrey Robert Ajer sold 1,000 shares of the stock in a transaction dated Wednesday, October 3rd. The stock was sold at an average price of $98.98, for a total transaction of $98,980.00. Following the completion of the transaction, the executive vice president now directly owns 49,135 shares of the company’s stock, valued at approximately $4,863,382.30. The disclosure for this sale can be found here. Insiders sold 75,023 shares of company stock valued at $7,497,878 in the last three months. Company insiders own 1.90% of the company’s stock.
Several hedge funds have recently bought and sold shares of BMRN. Huntington National Bank bought a new position in shares of BioMarin Pharmaceutical in the third quarter worth about $105,000. BDO Wealth Advisors LLC bought a new position in shares of BioMarin Pharmaceutical in the second quarter worth about $127,000. Financial Gravity Wealth Inc. bought a new position in shares of BioMarin Pharmaceutical in the first quarter worth about $195,000. Allen Investment Management LLC bought a new position in shares of BioMarin Pharmaceutical in the second quarter worth about $203,000. Finally, Reilly Financial Advisors LLC bought a new position in shares of BioMarin Pharmaceutical in the second quarter worth about $254,000.
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 that is used for the treatment of patients with mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Firdapse for Lambert Eaton Myasthenic Syndrome.
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