BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Expected to Announce Quarterly Sales of $462.38 Million

Analysts expect that BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) will announce $462.38 million in sales for the current fiscal quarter, according to Zacks. Ten analysts have made estimates for BioMarin Pharmaceutical’s earnings, with estimates ranging from $450.90 million to $468.36 million. BioMarin Pharmaceutical reported sales of $353.21 million in the same quarter last year, which indicates a positive year-over-year growth rate of 30.9%. The business is expected to report its next quarterly earnings results on Thursday, February 20th.

On average, analysts expect that BioMarin Pharmaceutical will report full-year sales of $1.71 billion for the current financial year, with estimates ranging from $1.70 billion to $1.72 billion. For the next financial year, analysts expect that the company will post sales of $1.98 billion, with estimates ranging from $1.91 billion to $2.07 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow BioMarin Pharmaceutical.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results on Wednesday, October 23rd. The biotechnology company reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.25. The business had revenue of $461.10 million during the quarter, compared to analysts’ expectations of $455.78 million. BioMarin Pharmaceutical had a negative return on equity of 1.35% and a negative net margin of 2.65%. BioMarin Pharmaceutical’s revenue was up 17.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.07) earnings per share.

Several research analysts have recently commented on BMRN shares. Nomura reduced their target price on BioMarin Pharmaceutical from $93.00 to $77.00 in a report on Thursday, October 24th. Stifel Nicolaus set a $108.00 price objective on BioMarin Pharmaceutical and gave the stock a “buy” rating in a report on Friday, September 13th. Wedbush reaffirmed a “buy” rating and set a $157.00 price objective on shares of BioMarin Pharmaceutical in a report on Friday, November 22nd. Bank of America reaffirmed a “buy” rating and set a $90.00 price objective on shares of BioMarin Pharmaceutical in a report on Wednesday. Finally, Zacks Investment Research downgraded BioMarin Pharmaceutical from a “buy” rating to a “hold” rating and set a $79.00 price objective on the stock. in a report on Wednesday, November 6th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $107.67.

In other news, CEO Jean Jacques Bienaime sold 10,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $77.60, for a total transaction of $776,000.00. Following the transaction, the chief executive officer now owns 327,070 shares in the company, valued at approximately $25,380,632. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director V Bryan Lawlis sold 3,750 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $74.47, for a total value of $279,262.50. Following the transaction, the director now owns 27,340 shares in the company, valued at approximately $2,036,009.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,940 shares of company stock worth $1,657,128. Insiders own 1.90% of the company’s stock.

Large investors have recently made changes to their positions in the company. Doyle Wealth Management acquired a new position in shares of BioMarin Pharmaceutical in the 2nd quarter worth $26,000. North Star Investment Management Corp. acquired a new position in BioMarin Pharmaceutical during the 3rd quarter worth $25,000. Usca Ria LLC acquired a new position in BioMarin Pharmaceutical during the 3rd quarter worth $26,000. Meeder Asset Management Inc. lifted its holdings in BioMarin Pharmaceutical by 73.6% during the 3rd quarter. Meeder Asset Management Inc. now owns 408 shares of the biotechnology company’s stock worth $27,000 after buying an additional 173 shares in the last quarter. Finally, Avestar Capital LLC lifted its holdings in BioMarin Pharmaceutical by 36.9% during the 2nd quarter. Avestar Capital LLC now owns 750 shares of the biotechnology company’s stock worth $44,000 after buying an additional 202 shares in the last quarter. Hedge funds and other institutional investors own 95.51% of the company’s stock.

Shares of BMRN traded up $2.13 on Friday, hitting $80.90. The company’s stock had a trading volume of 1,374,012 shares, compared to its average volume of 1,237,877. The company has a market capitalization of $14.17 billion, a PE ratio of -245.15 and a beta of 1.31. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.77 and a quick ratio of 2.53. BioMarin Pharmaceutical has a fifty-two week low of $62.88 and a fifty-two week high of $100.13. The company has a 50 day moving average price of $76.49 and a 200 day moving average price of $77.09.

BioMarin Pharmaceutical Company Profile

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 to treat mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; 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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Earnings History and Estimates for BioMarin Pharmaceutical (NASDAQ:BMRN)

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