Cantor Fitzgerald Issues Positive Estimate for BMRN Earnings

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) - Equities researchers at Cantor Fitzgerald raised their FY2024 EPS estimates for BioMarin Pharmaceutical in a research note issued on Wednesday, October 30th. Cantor Fitzgerald analyst O. Brayer now forecasts that the biotechnology company will post earnings of $2.43 per share for the year, up from their prior estimate of $2.36. Cantor Fitzgerald currently has a "Overweight" rating and a $90.00 target price on the stock. The consensus estimate for BioMarin Pharmaceutical's current full-year earnings is $2.39 per share.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last announced its earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.23). The company had revenue of $746.00 million for the quarter, compared to analyst estimates of $703.37 million. BioMarin Pharmaceutical had a return on equity of 6.91% and a net margin of 9.91%. The firm's quarterly revenue was up 28.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.26 earnings per share.

A number of other brokerages also recently issued reports on BMRN. Sanford C. Bernstein dropped their price target on shares of BioMarin Pharmaceutical from $116.00 to $90.00 and set an "outperform" rating on the stock in a research report on Tuesday, September 17th. StockNews.com upgraded shares of BioMarin Pharmaceutical from a "hold" rating to a "buy" rating in a report on Thursday, August 8th. Stifel Nicolaus decreased their price target on BioMarin Pharmaceutical from $115.00 to $87.00 and set a "buy" rating for the company in a report on Tuesday, September 17th. William Blair downgraded BioMarin Pharmaceutical from an "outperform" rating to a "market perform" rating in a research note on Wednesday. Finally, Evercore ISI cut their target price on BioMarin Pharmaceutical from $115.00 to $105.00 and set an "outperform" rating on the stock in a research report on Wednesday. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat.com, BioMarin Pharmaceutical has an average rating of "Moderate Buy" and an average target price of $93.67.

BioMarin Pharmaceutical Trading Down 1.2 %

Shares of BioMarin Pharmaceutical stock traded down $0.79 during midday trading on Thursday, reaching $65.89. The company had a trading volume of 1,843,292 shares, compared to its average volume of 1,848,864. The firm has a market cap of $12.51 billion, a PE ratio of 61.58, a P/E/G ratio of 0.81 and a beta of 0.31. The stock has a fifty day moving average price of $75.60 and a 200 day moving average price of $80.84. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.05 and a quick ratio of 1.95. BioMarin Pharmaceutical has a fifty-two week low of $65.35 and a fifty-two week high of $99.56.

Institutional Trading of BioMarin Pharmaceutical

Institutional investors and hedge funds have recently made changes to their positions in the company. AGF Management Ltd. purchased a new stake in BioMarin Pharmaceutical in the 2nd quarter valued at about $2,563,000. Susquehanna Fundamental Investments LLC bought a new position in shares of BioMarin Pharmaceutical in the second quarter valued at approximately $5,627,000. Teachers Retirement System of The State of Kentucky increased its position in shares of BioMarin Pharmaceutical by 17.4% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 194,207 shares of the biotechnology company's stock valued at $15,990,000 after acquiring an additional 28,837 shares during the last quarter. E Fund Management Co. Ltd. lifted its holdings in BioMarin Pharmaceutical by 167.4% during the second quarter. E Fund Management Co. Ltd. now owns 13,480 shares of the biotechnology company's stock worth $1,110,000 after acquiring an additional 8,438 shares during the period. Finally, Tidal Investments LLC grew its stake in BioMarin Pharmaceutical by 65.5% in the 1st quarter. Tidal Investments LLC now owns 17,447 shares of the biotechnology company's stock valued at $1,524,000 after purchasing an additional 6,906 shares during the period. Hedge funds and other institutional investors own 98.71% of the company's stock.

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.