$462.28 Million in Sales Expected for BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) This Quarter

Equities research analysts expect that BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) will post sales of $462.28 million for the current quarter, according to Zacks Investment Research. Ten analysts have provided estimates for BioMarin Pharmaceutical’s earnings. The highest sales estimate is $468.36 million and the lowest is $450.90 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 company is scheduled to issue its next quarterly earnings results on Thursday, February 20th.

According to Zacks, analysts expect that BioMarin Pharmaceutical will report full-year sales of $1.71 billion for the current year, with estimates ranging from $1.70 billion to $1.72 billion. For the next year, analysts forecast that the business will report sales of $1.97 billion, with estimates ranging from $1.91 billion to $2.07 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow BioMarin Pharmaceutical.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Wednesday, October 23rd. The biotechnology company reported $0.31 earnings per share 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%. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.07) EPS.

BMRN has been the subject of several research reports. Raymond James cut BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Cowen reissued a “buy” rating and set a $150.00 price target on shares of BioMarin Pharmaceutical in a report on Monday, December 16th. TheStreet upgraded BioMarin Pharmaceutical from a “d+” rating to a “c-” rating in a research note on Thursday, December 26th. Cantor Fitzgerald restated a “buy” rating and set a $129.00 price objective on shares of BioMarin Pharmaceutical in a research note on Monday, December 16th. Finally, Barclays upgraded BioMarin Pharmaceutical from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $86.00 to $98.00 in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $111.65.

In other news, CEO Jean Jacques Bienaime sold 8,000 shares of BioMarin Pharmaceutical stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $87.95, for a total value of $703,600.00. Following the transaction, the chief executive officer now owns 335,530 shares in the company, valued at approximately $29,509,863.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP George Eric Davis sold 3,190 shares of BioMarin Pharmaceutical stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $79.66, for a total value of $254,115.40. Following the completion of the transaction, the executive vice president now owns 68,709 shares in the company, valued at approximately $5,473,358.94. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,940 shares of company stock worth $2,730,495. Corporate insiders own 1.90% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Doyle Wealth Management bought a new position in shares of BioMarin Pharmaceutical in the 2nd quarter valued at $26,000. North Star Investment Management Corp. bought a new position in shares of BioMarin Pharmaceutical in the 3rd quarter valued at $25,000. Usca Ria LLC bought a new position in shares of BioMarin Pharmaceutical in the 3rd quarter valued at $26,000. Meeder Asset Management Inc. increased its stake in shares of BioMarin Pharmaceutical by 73.6% in the 3rd quarter. Meeder Asset Management Inc. now owns 408 shares of the biotechnology company’s stock valued at $27,000 after purchasing an additional 173 shares during the last quarter. Finally, Allred Capital Management LLC bought a new position in shares of BioMarin Pharmaceutical in the 4th quarter valued at $51,000. Institutional investors own 95.91% of the company’s stock.

NASDAQ:BMRN traded up $0.52 during mid-day trading on Wednesday, hitting $86.15. 1,215,834 shares of the stock were exchanged, compared to its average volume of 1,178,724. The stock has a market capitalization of $15.48 billion, a price-to-earnings ratio of -331.35 and a beta of 1.32. The firm’s 50-day simple moving average is $85.03 and its 200 day simple moving average is $77.52. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.53 and a current ratio of 3.77. BioMarin Pharmaceutical has a fifty-two week low of $62.88 and a fifty-two week high of $100.13.

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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