Q3 2024 Earnings Forecast for BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Issued By Zacks Research

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) – Equities researchers at Zacks Research raised their Q3 2024 EPS estimates for BioMarin Pharmaceutical in a research note issued on Monday, August 26th. Zacks Research analyst S. Ganoria now forecasts that the biotechnology company will post earnings of $0.53 per share for the quarter, up from their prior estimate of $0.51. The consensus estimate for BioMarin Pharmaceutical’s current full-year earnings is $2.00 per share. Zacks Research also issued estimates for BioMarin Pharmaceutical’s Q4 2024 earnings at $0.55 EPS, FY2024 earnings at $2.32 EPS, Q1 2025 earnings at $0.57 EPS, Q2 2025 earnings at $0.61 EPS, Q3 2025 earnings at $0.63 EPS, Q4 2025 earnings at $0.66 EPS, FY2025 earnings at $2.46 EPS, Q1 2026 earnings at $0.70 EPS and FY2026 earnings at $2.95 EPS.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Monday, August 5th. The biotechnology company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.39. BioMarin Pharmaceutical had a return on equity of 5.34% and a net margin of 8.31%. The firm had revenue of $712.03 million for the quarter, compared to analyst estimates of $660.51 million.

A number of other research firms have also recently issued reports on BMRN. Canaccord Genuity Group restated a “hold” rating and set a $89.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, July 25th. Stifel Nicolaus upped their price target on BioMarin Pharmaceutical from $112.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Wells Fargo & Company increased their target price on BioMarin Pharmaceutical from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. StockNews.com raised BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Finally, Sanford C. Bernstein upgraded shares of BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $94.00 to $110.00 in a report on Tuesday, August 20th. Eight research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and a consensus target price of $105.26.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ BMRN opened at $91.21 on Thursday. The company has a quick ratio of 1.70, a current ratio of 2.74 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $17.32 billion, a PE ratio of 85.24, a P/E/G ratio of 1.20 and a beta of 0.32. The firm has a fifty day simple moving average of $86.11 and a 200 day simple moving average of $85.04. BioMarin Pharmaceutical has a twelve month low of $73.68 and a twelve month high of $99.56.

Institutional Trading of BioMarin Pharmaceutical

A number of hedge funds and other institutional investors have recently made changes to their positions in BMRN. Innealta Capital LLC purchased a new position in BioMarin Pharmaceutical during the 2nd quarter valued at about $25,000. BOKF NA purchased a new position in BioMarin Pharmaceutical during the second quarter valued at approximately $31,000. Quent Capital LLC increased its holdings in BioMarin Pharmaceutical by 58.9% during the 2nd quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 145 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in BioMarin Pharmaceutical by 135.3% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 433 shares of the biotechnology company’s stock worth $42,000 after purchasing an additional 249 shares in the last quarter. Finally, Jones Financial Companies Lllp purchased a new stake in BioMarin Pharmaceutical in the 4th quarter worth approximately $43,000. 98.71% of the stock is currently owned by 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.