BioMarin Pharmaceutical (BMRN) Scheduled to Post Earnings on Wednesday

BioMarin Pharmaceutical (NASDAQ:BMRN) is scheduled to post its quarterly earnings results after the market closes on Wednesday, April 24th. Analysts expect BioMarin Pharmaceutical to post earnings of $0.60 per share for the quarter. BioMarin Pharmaceutical has set its FY24 guidance at $2.60-2.80 EPS and its FY 2024 guidance at 2.600-2.800 EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Thursday, February 22nd. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.05. BioMarin Pharmaceutical had a return on equity of 5.01% and a net margin of 6.93%. The firm had revenue of $646.21 million for the quarter, compared to analysts’ expectations of $639.53 million. During the same period in the previous year, the firm earned $0.11 earnings per share. The business’s revenue was up 20.2% compared to the same quarter last year. On average, analysts expect BioMarin Pharmaceutical to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

BioMarin Pharmaceutical Price Performance

BMRN opened at $89.49 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.57 and a current ratio of 2.51. BioMarin Pharmaceutical has a 52-week low of $76.02 and a 52-week high of $99.56. The stock has a market capitalization of $16.89 billion, a PE ratio of 101.69, a price-to-earnings-growth ratio of 1.64 and a beta of 0.31. The stock’s 50 day moving average price is $87.64 and its 200-day moving average price is $89.18.

Analyst Upgrades and Downgrades

BMRN has been the topic of several research reports. Cantor Fitzgerald restated an “overweight” rating and set a $100.00 price target on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd. Piper Sandler dropped their price target on BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating on the stock in a research report on Friday, February 23rd. Canaccord Genuity Group restated a “hold” rating and set a $91.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 29th. Royal Bank of Canada restated a “sector perform” rating and set a $100.00 price target on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd. Finally, Robert W. Baird dropped their price target on BioMarin Pharmaceutical from $127.00 to $104.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 30th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and a consensus price target of $107.61.

Insider Transactions at BioMarin Pharmaceutical

In other news, Director Jean Jacques Bienaime sold 20,000 shares of the business’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $91.26, for a total value of $1,825,200.00. Following the completion of the transaction, the director now owns 474,994 shares in the company, valued at $43,347,952.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Jean Jacques Bienaime sold 20,000 shares of the business’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $91.26, for a total value of $1,825,200.00. Following the completion of the transaction, the director now owns 474,994 shares in the company, valued at $43,347,952.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Erin Burkhart sold 2,286 shares of the business’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $90.00, for a total value of $205,740.00. Following the completion of the transaction, the chief accounting officer now owns 16,156 shares of the company’s stock, valued at approximately $1,454,040. The disclosure for this sale can be found here. Insiders sold 103,229 shares of company stock worth $9,062,967 over the last quarter. 1.84% of the stock is currently owned by insiders.

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.