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.
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.
Further Reading: How dollar cost averaging works
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for BioMarin Pharmaceutical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioMarin Pharmaceutical and related companies with MarketBeat.com's FREE daily email newsletter.