$434.37 Million in Sales Expected for BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) This Quarter

Wall Street brokerages expect BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) to announce $434.37 million in sales for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have made estimates for BioMarin Pharmaceutical’s earnings. The highest sales estimate is $456.42 million and the lowest is $413.30 million. BioMarin Pharmaceutical reported sales of $476.78 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 8.9%. The company is expected to issue its next quarterly earnings results on Thursday, November 4th.

According to Zacks, analysts expect that BioMarin Pharmaceutical will report full year sales of $1.86 billion for the current fiscal year, with estimates ranging from $1.83 billion to $1.88 billion. For the next fiscal year, analysts expect that the business will post sales of $2.15 billion, with estimates ranging from $1.84 billion to $2.28 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow BioMarin Pharmaceutical.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Tuesday, July 27th. The biotechnology company reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.18. BioMarin Pharmaceutical had a net margin of 43.68% and a return on equity of 3.34%. The business had revenue of $501.69 million during the quarter, compared to analyst estimates of $448.84 million.

A number of brokerages recently issued reports on BMRN. Zacks Investment Research lowered shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating and set a $81.00 price objective for the company. in a report on Tuesday, August 3rd. Stifel Nicolaus raised shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and upped their price objective for the company from $86.00 to $96.00 in a report on Thursday, September 9th. Royal Bank of Canada reissued a “hold” rating and issued a $88.00 price objective on shares of BioMarin Pharmaceutical in a report on Tuesday, September 7th. Piper Sandler upped their price objective on shares of BioMarin Pharmaceutical from $112.00 to $119.00 and gave the company an “overweight” rating in a report on Thursday, July 29th. Finally, Jefferies Financial Group began coverage on shares of BioMarin Pharmaceutical in a report on Thursday, July 29th. They issued a “buy” rating and a $112.00 price objective for the company. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $101.39.

Shares of BioMarin Pharmaceutical stock traded down $1.81 during trading hours on Tuesday, reaching $76.17. 791,027 shares of the company’s stock were exchanged, compared to its average volume of 1,119,303. The company has a quick ratio of 3.71, a current ratio of 5.32 and a debt-to-equity ratio of 0.25. BioMarin Pharmaceutical has a 1 year low of $71.65 and a 1 year high of $92.57. The business has a fifty day moving average of $78.93 and a two-hundred day moving average of $78.90. The company has a market capitalization of $13.97 billion, a P/E ratio of 17.76, a price-to-earnings-growth ratio of 15.81 and a beta of 0.53.

A number of hedge funds have recently made changes to their positions in BMRN. Janney Montgomery Scott LLC lifted its position in shares of BioMarin Pharmaceutical by 4.9% during the first quarter. Janney Montgomery Scott LLC now owns 25,054 shares of the biotechnology company’s stock worth $1,892,000 after purchasing an additional 1,175 shares in the last quarter. NN Investment Partners Holdings N.V. lifted its position in shares of BioMarin Pharmaceutical by 1.9% during the first quarter. NN Investment Partners Holdings N.V. now owns 35,624 shares of the biotechnology company’s stock worth $2,689,000 after purchasing an additional 659 shares in the last quarter. IFP Advisors Inc lifted its position in shares of BioMarin Pharmaceutical by 13.6% during the first quarter. IFP Advisors Inc now owns 2,316 shares of the biotechnology company’s stock worth $175,000 after purchasing an additional 277 shares in the last quarter. Exane Derivatives lifted its position in shares of BioMarin Pharmaceutical by 52.6% during the first quarter. Exane Derivatives now owns 2,836 shares of the biotechnology company’s stock worth $214,000 after purchasing an additional 978 shares in the last quarter. Finally, Intrua Financial LLC acquired a new stake in shares of BioMarin Pharmaceutical during the first quarter worth about $211,000. 94.44% of the stock is owned by institutional investors.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical, Inc engages in the development and commercialization of therapies for people with serious and life-threatening rare diseases and medical conditions. Its pipeline products include Valoctocogene roxaparvovec, Vosoritide, and BMN 307. The company was founded by John C. Klock, Christopher M.

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