Brokerages expect BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) to announce $312.87 million in sales for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have issued estimates for BioMarin Pharmaceutical’s earnings, with estimates ranging from $303 million to $321.01 million. BioMarin Pharmaceutical reported sales of $300.13 million in the same quarter last year, which indicates a positive year over year growth rate of 4.2%. The company is scheduled to announce its next quarterly earnings report on Thursday, August 3rd.
On average, analysts expect that BioMarin Pharmaceutical will report full-year sales of $312.87 million for the current fiscal year, with estimates ranging from $1.25 billion to $1.31 billion. For the next financial year, analysts anticipate that the firm will post sales of $1.47 billion per share, with estimates ranging from $1.35 billion to $1.59 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for BioMarin Pharmaceutical.
BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Thursday, May 4th. The biotechnology company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.30) by $0.33. The firm earned $303.70 million during the quarter, compared to analyst estimates of $292.58 million. BioMarin Pharmaceutical had a negative return on equity of 8.54% and a negative net margin of 46.22%. BioMarin Pharmaceutical’s revenue was up 28.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.53) EPS.
A number of research analysts recently issued reports on BMRN shares. Zacks Investment Research downgraded shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Tuesday, January 17th. Credit Suisse Group AG started coverage on shares of BioMarin Pharmaceutical in a research report on Monday, January 23rd. They set an “outperform” rating and a $107.00 target price for the company. Nomura started coverage on shares of BioMarin Pharmaceutical in a research report on Wednesday, March 1st. They set a “neutral” rating for the company. Wedbush restated a “neutral” rating and set a $102.00 target price on shares of BioMarin Pharmaceutical in a research report on Wednesday, February 8th. Finally, Instinet started coverage on shares of BioMarin Pharmaceutical in a research report on Wednesday, March 1st. They set a “neutral” rating and a $93.00 target price for the company. Eight research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $111.48.
BioMarin Pharmaceutical (NASDAQ:BMRN) traded down 3.63% during midday trading on Wednesday, hitting $94.23. The stock had a trading volume of 2,403,010 shares. The firm’s market capitalization is $16.29 billion. BioMarin Pharmaceutical has a 52-week low of $73.45 and a 52-week high of $102.49. The firm has a 50-day moving average of $90.57 and a 200 day moving average of $87.88.
In related news, CEO Jean Jacques Bienaime sold 5,000 shares of the company’s stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $95.72, for a total transaction of $478,600.00. Following the completion of the sale, the chief executive officer now owns 243,194 shares of the company’s stock, valued at approximately $23,278,529.68. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jeffrey Robert Ajer sold 302 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $96.74, for a total transaction of $29,215.48. Following the sale, the executive vice president now directly owns 51,834 shares of the company’s stock, valued at approximately $5,014,421.16. The disclosure for this sale can be found here. Insiders have sold 105,720 shares of company stock valued at $9,759,023 in the last three months. Corporate insiders own 2.50% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Toronto Dominion Bank boosted its stake in shares of BioMarin Pharmaceutical by 27.1% in the first quarter. Toronto Dominion Bank now owns 1,881 shares of the biotechnology company’s stock valued at $165,000 after buying an additional 401 shares in the last quarter. Symphony Asset Management LLC boosted its stake in shares of BioMarin Pharmaceutical by 40.7% in the first quarter. Symphony Asset Management LLC now owns 6,392 shares of the biotechnology company’s stock valued at $561,000 after buying an additional 1,849 shares in the last quarter. TD Asset Management Inc. boosted its stake in shares of BioMarin Pharmaceutical by 26.9% in the first quarter. TD Asset Management Inc. now owns 63,032 shares of the biotechnology company’s stock valued at $5,533,000 after buying an additional 13,365 shares in the last quarter. First Foundation Advisors boosted its stake in shares of BioMarin Pharmaceutical by 26.9% in the first quarter. First Foundation Advisors now owns 8,310 shares of the biotechnology company’s stock valued at $729,000 after buying an additional 1,760 shares in the last quarter. Finally, Karp Capital Management Corp acquired a new stake in shares of BioMarin Pharmaceutical during the first quarter valued at about $4,519,000. 97.78% of the stock is owned by institutional investors.
BioMarin Pharmaceutical Company Profile
BioMarin Pharmaceutical Inc is a biotechnology company. The Company develops and commercializes pharmaceuticals for various diseases and medical conditions. As of December 31, 2016, the Company’s therapy portfolio consisted of five products, and multiple clinical and pre-clinical product candidates. Its commercial products include Aldurazyme (laronidase) for Mucopolysaccharidosis I (MPS I), Firdapse (amifampridine phosphate) for Lambert Eaton Myasthenic Syndrome (LEMS), Kuvan (sapropterin dihydrochloride) for phenylketonuria (PKU), Naglazyme (galsulfase) for Mucopolysaccharidosis VI (MPS VI) and Vimizim (elosulfase alpha) for Mucopolysaccharidosis IV Type A (MPS IV A).
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