BioMarin Pharmaceutical (NASDAQ:BMRN) Posts Earnings Results, Misses Expectations By $0.23 EPS

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

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ:BMRN traded down $3.28 during trading on Wednesday, reaching $66.63. The company had a trading volume of 2,399,158 shares, compared to its average volume of 1,847,057. BioMarin Pharmaceutical has a twelve month low of $65.78 and a twelve month high of $99.56. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.95 and a current ratio of 3.05. The firm has a market capitalization of $12.65 billion, a PE ratio of 62.91, a price-to-earnings-growth ratio of 0.81 and a beta of 0.31. The firm's fifty day moving average is $76.60 and its 200 day moving average is $81.04.

Wall Street Analyst Weigh In

Several research firms have issued reports on BMRN. Citigroup decreased their price objective on shares of BioMarin Pharmaceutical from $93.00 to $81.00 and set a "neutral" rating for the company in a research note on Wednesday. Raymond James reissued an "outperform" rating and issued a $79.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, October 10th. Robert W. Baird reduced their target price on BioMarin Pharmaceutical from $72.00 to $65.00 and set a "neutral" rating for the company in a research note on Wednesday. UBS Group lifted their price target on shares of BioMarin Pharmaceutical from $104.00 to $106.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, TD Cowen reduced their price objective on shares of BioMarin Pharmaceutical from $125.00 to $120.00 and set a "buy" rating on the stock in a research note on Tuesday, August 6th. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $93.67.

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.