BioMarin Pharmaceutical (NASDAQ:BMRN) Posts Earnings Results, Misses Expectations By $0.23 EPS

BioMarin Pharmaceutical (NASDAQ:BMRN) announced its quarterly earnings data on Tuesday. The biotechnology company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23), Briefing.com reports. BioMarin Pharmaceutical had a return on equity of 6.91% and a net margin of 9.91%. The company had revenue of $746.00 million for the quarter, compared to analyst estimates of $703.37 million. During the same period last year, the firm earned $0.26 earnings per share. The firm’s revenue for the quarter was up 28.4% on a year-over-year basis.

BioMarin Pharmaceutical Trading Down 1.2 %

Shares of NASDAQ:BMRN traded down $0.79 during midday trading on Thursday, reaching $65.89. The company’s stock had a trading volume of 1,843,292 shares, compared to its average volume of 1,848,864. The firm has a market capitalization of $12.51 billion, a price-to-earnings ratio of 62.32, a PEG ratio of 0.81 and a beta of 0.31. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.95 and a current ratio of 3.05. The firm has a 50 day moving average price of $76.08 and a two-hundred day moving average price of $80.94. BioMarin Pharmaceutical has a fifty-two week low of $65.35 and a fifty-two week high of $99.56.

Wall Street Analyst Weigh In

BMRN has been the subject of a number of research analyst reports. Truist Financial decreased their target price on BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Citigroup cut their price target on BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating on the stock in a report on Wednesday. Barclays cut 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. UBS Group upped their target price on BioMarin Pharmaceutical from $104.00 to $106.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Scotiabank dropped their target price on BioMarin Pharmaceutical from $95.00 to $78.00 and set a “sector perform” rating on the stock in a report on Tuesday, September 17th. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $93.67.

About BioMarin Pharmaceutical

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.