BioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Free Report) – Equities research analysts at Cantor Fitzgerald boosted their FY2024 EPS estimates for BioMarin Pharmaceutical in a research report issued to clients and investors 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 released its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). The business had revenue of $746.00 million during the quarter, compared to analyst estimates 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 quarter in the previous year, the firm posted $0.26 earnings per share.
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BioMarin Pharmaceutical Trading Down 4.6 %
BMRN opened at $66.68 on Thursday. The company has a quick ratio of 1.95, a current ratio of 3.05 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical has a twelve month low of $65.78 and a twelve month high of $99.56. The stock has a market capitalization of $12.66 billion, a price-to-earnings ratio of 62.32, a P/E/G ratio of 0.81 and a beta of 0.31. The company has a 50-day simple moving average of $76.08 and a 200 day simple moving average of $80.94.
Institutional Investors Weigh In On BioMarin Pharmaceutical
Several large investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its position in shares of BioMarin Pharmaceutical by 1,858.6% during the 2nd quarter. Principal Financial Group Inc. now owns 649,460 shares of the biotechnology company’s stock valued at $53,470,000 after acquiring an additional 616,301 shares during the period. Assenagon Asset Management S.A. grew its stake in BioMarin Pharmaceutical by 11,107.4% in the second quarter. Assenagon Asset Management S.A. now owns 352,474 shares of the biotechnology company’s stock valued at $29,019,000 after acquiring an additional 349,329 shares during the period. Rhumbline Advisers increased its holdings in shares of BioMarin Pharmaceutical by 122.1% during the second quarter. Rhumbline Advisers now owns 551,553 shares of the biotechnology company’s stock valued at $45,409,000 after acquiring an additional 303,207 shares in the last quarter. Swedbank AB acquired a new position in shares of BioMarin Pharmaceutical during the first quarter worth approximately $25,864,000. Finally, Dimensional Fund Advisors LP raised its position in shares of BioMarin Pharmaceutical by 38.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,034,457 shares of the biotechnology company’s stock worth $85,178,000 after purchasing an additional 289,953 shares during the period. Institutional investors and hedge funds own 98.71% of the company’s stock.
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.
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