BioMarin Pharmaceutical (NASDAQ:BMRN) Announces Earnings Results

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

BioMarin Pharmaceutical Stock Performance

Shares of BMRN stock opened at $66.68 on Thursday. BioMarin Pharmaceutical has a one year low of $65.78 and a one year high of $99.56. The firm has a market capitalization of $12.66 billion, a price-to-earnings ratio of 62.32, a price-to-earnings-growth 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 company has a 50 day moving average price of $76.08 and a 200 day moving average price of $80.94.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BMRN. William Blair downgraded shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Citigroup cut their price objective on shares of BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating for the company in a report on Wednesday. TD Cowen reduced their price target on shares of BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Robert W. Baird decreased their price objective on BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Scotiabank cut their price objective on BioMarin Pharmaceutical from $95.00 to $78.00 and set a “sector perform” rating on the stock in a research report on Tuesday, September 17th. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and an average target price of $93.67.

BioMarin Pharmaceutical Company Profile

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.