BioMarin Pharmaceutical (NASDAQ:BMRN) Issues Earnings Results

Key Points

• BioMarin reported quarterly EPS of $0.76, missing the $0.94 consensus by $0.18, but revenue came in ahead at $766.21 million versus estimates of $752.15 million.
• Shares ticked up to $55.46 on Monday on higher-than-average volume; the company has a market cap of $10.72 billion and a trailing P/E of 31.16 with a 12‑month range of $50.76–$66.28.
• Two executive VPs disclosed sizable share sales (insiders own just 0.85%); Wall Street remains upbeat overall with a "Moderate Buy" consensus and a $91.48 average price target.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) released its earnings results on Monday. The biotechnology company reported $0.76 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.94 by ($0.18), FiscalAI reports. The business had revenue of $766.21 million during the quarter, compared to analyst estimates of $752.15 million. BioMarin Pharmaceutical had a net margin of 10.83% and a return on equity of 7.91%.

BioMarin Pharmaceutical Price Performance

Shares of BioMarin Pharmaceutical stock traded up $1.40 during trading on Monday, hitting $55.46. 2,806,153 shares of the company's stock traded hands, compared to its average volume of 2,000,107. The firm's fifty day moving average price is $56.93 and its 200 day moving average price is $56.32. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.21 and a quick ratio of 3.50. The company has a market cap of $10.72 billion, a PE ratio of 31.16, a PEG ratio of 0.54 and a beta of 0.23. BioMarin Pharmaceutical has a twelve month low of $50.76 and a twelve month high of $66.28.

Insider Buying and Selling at BioMarin Pharmaceutical

In related news, EVP Gregory R. Friberg sold 6,326 shares of the business's stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $60.38, for a total value of $381,963.88. Following the sale, the executive vice president owned 37,578 shares of the company's stock, valued at $2,268,959.64. The trade was a 14.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Charles Greg Guyer sold 16,486 shares of the business's stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $60.46, for a total value of $996,743.56. Following the completion of the sale, the executive vice president directly owned 79,953 shares in the company, valued at approximately $4,833,958.38. This represents a 17.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.85% of the stock is owned by insiders.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Institutional investors and hedge funds have recently bought and sold shares of the business. CIBC Private Wealth Group LLC lifted its position in shares of BioMarin Pharmaceutical by 38.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company's stock worth $39,000 after purchasing an additional 179 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of BioMarin Pharmaceutical during the third quarter valued at $40,000. Parallel Advisors LLC lifted its stake in shares of BioMarin Pharmaceutical by 62.2% during the third quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company's stock valued at $42,000 after acquiring an additional 295 shares during the period. Meeder Asset Management Inc. lifted its stake in shares of BioMarin Pharmaceutical by 1,974.1% during the fourth quarter. Meeder Asset Management Inc. now owns 1,763 shares of the biotechnology company's stock valued at $105,000 after acquiring an additional 1,678 shares during the period. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of BioMarin Pharmaceutical during the fourth quarter valued at $201,000. Institutional investors and hedge funds own 98.71% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Stifel Nicolaus set a $68.00 price target on shares of BioMarin Pharmaceutical in a research report on Tuesday, February 24th. Sanford C. Bernstein raised their price target on shares of BioMarin Pharmaceutical from $90.00 to $94.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 25th. Wolfe Research restated an "outperform" rating on shares of BioMarin Pharmaceutical in a research report on Monday, March 16th. Oppenheimer decreased their price objective on BioMarin Pharmaceutical from $98.00 to $95.00 and set an "outperform" rating on the stock in a report on Tuesday, February 24th. Finally, Barclays lifted their price objective on BioMarin Pharmaceutical from $80.00 to $105.00 and gave the stock an "overweight" rating in a report on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, BioMarin Pharmaceutical presently has an average rating of "Moderate Buy" and a consensus target price of $91.48.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc is a biopharmaceutical company specializing in the development and commercialization of therapies for rare genetic and metabolic diseases. The company focuses on addressing unmet medical needs by leveraging enzyme replacement therapy, small molecule pharmacological chaperones and gene therapy technologies. Headquartered in Novato, California, BioMarin operates research and development facilities in the United States and Europe.

The company's commercial portfolio includes several approved therapies targeting inherited disorders.

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