FY2024 Earnings Forecast for BMRN Issued By Leerink Partnrs

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) - Leerink Partnrs cut their FY2024 earnings estimates for shares of BioMarin Pharmaceutical in a research report issued on Wednesday, October 30th. Leerink Partnrs analyst J. Schwartz now expects that the biotechnology company will post earnings per share of $2.60 for the year, down from their previous forecast of $2.66. The consensus estimate for BioMarin Pharmaceutical's current full-year earnings is $2.39 per share. Leerink Partnrs also issued estimates for BioMarin Pharmaceutical's Q4 2024 earnings at $0.63 EPS, Q1 2025 earnings at $0.48 EPS, Q2 2025 earnings at $0.81 EPS, Q3 2025 earnings at $0.82 EPS, Q4 2025 earnings at $0.82 EPS, FY2025 earnings at $2.93 EPS and FY2026 earnings at $5.20 EPS.

Several other research firms have also recently commented on BMRN. Stifel Nicolaus dropped their price objective 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. Cantor Fitzgerald dropped their price target on shares of BioMarin Pharmaceutical from $110.00 to $90.00 and set an "overweight" rating on the stock in a report on Wednesday, October 30th. JPMorgan Chase & Co. decreased their price objective on shares of BioMarin Pharmaceutical from $110.00 to $109.00 and set an "overweight" rating for the company in a report on Wednesday, October 30th. Canaccord Genuity Group dropped their target price on shares of BioMarin Pharmaceutical from $93.00 to $84.00 and set a "hold" rating on the stock in a report on Wednesday, October 30th. Finally, Evercore ISI cut their target price on shares of BioMarin Pharmaceutical from $115.00 to $105.00 and set an "outperform" rating for the company in a research report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, BioMarin Pharmaceutical currently has an average rating of "Moderate Buy" and an average target price of $94.16.

BioMarin Pharmaceutical Stock Down 0.9 %

BMRN traded down $0.59 during trading on Monday, hitting $66.01. 1,679,010 shares of the company's stock traded hands, compared to its average volume of 1,848,761. BioMarin Pharmaceutical has a 12-month low of $65.35 and a 12-month high of $99.56. The company's 50 day simple moving average is $74.65 and its two-hundred day simple moving average is $80.36. The company has a current ratio of 4.27, a quick ratio of 1.95 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $12.53 billion, a price-to-earnings ratio of 39.53, a PEG ratio of 0.67 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last issued its earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.23). The firm had revenue of $746.00 million during the quarter, compared to the consensus estimate of $703.37 million. BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The company's quarterly revenue was up 28.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.26 EPS.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Several large investors have recently made changes to their positions in the business. Innealta Capital LLC bought a new stake in BioMarin Pharmaceutical during the 2nd quarter valued at approximately $25,000. nVerses Capital LLC purchased a new position in shares of BioMarin Pharmaceutical in the third quarter worth $28,000. BOKF NA bought a new position in shares of BioMarin Pharmaceutical during the second quarter worth $31,000. Quent Capital LLC grew its stake in BioMarin Pharmaceutical by 58.9% during the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company's stock valued at $32,000 after acquiring an additional 145 shares in the last quarter. Finally, Itau Unibanco Holding S.A. bought a new stake in BioMarin Pharmaceutical in the 2nd quarter valued at $47,000. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

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.