BioMarin Pharmaceutical (NASDAQ:BMRN) Announces Quarterly Earnings Results

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

BioMarin Pharmaceutical Trading Down 1.2 %

BioMarin Pharmaceutical stock traded down $0.81 during midday trading on Thursday, reaching $65.87. 343,101 shares of the stock traded hands, compared to its average volume of 1,841,754. BioMarin Pharmaceutical has a 12-month low of $65.35 and a 12-month high of $99.56. The company has a 50-day simple moving average of $76.08 and a two-hundred day simple moving average of $80.94. The firm has a market cap of $12.51 billion, a PE ratio of 62.32, a price-to-earnings-growth ratio of 0.81 and a beta of 0.31. The company has a current ratio of 3.05, a quick ratio of 1.95 and a debt-to-equity ratio of 0.11.

Analyst Ratings Changes

A number of research firms recently commented on BMRN. Sanford C. Bernstein lowered their price target on BioMarin Pharmaceutical from $116.00 to $90.00 and set an “outperform” rating for the company in a research report on Tuesday, September 17th. Truist Financial lowered their price target on BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Evercore ISI reduced their target price on shares of BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Wednesday. Canaccord Genuity Group lowered their price target on shares of BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating for the company in a research note on Wednesday. Finally, Stifel Nicolaus reduced their price target on BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $93.67.

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BioMarin Pharmaceutical Company Profile

(Get Free Report)

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.

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Earnings History for BioMarin Pharmaceutical (NASDAQ:BMRN)

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