Equities analysts forecast that BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) will report $442.50 million in sales for the current quarter, according to Zacks. Nine analysts have provided estimates for BioMarin Pharmaceutical's earnings, with estimates ranging from $424.00 million to $469.10 million. BioMarin Pharmaceutical posted sales of $452.12 million during the same quarter last year, which suggests a negative year over year growth rate of 2.1%. The firm is expected to announce its next quarterly earnings results on Thursday, February 24th.
On average, analysts expect that BioMarin Pharmaceutical will report full year sales of $1.84 billion for the current year, with estimates ranging from $1.83 billion to $1.87 billion. For the next financial year, analysts forecast that the firm will post sales of $2.08 billion, with estimates ranging from $1.88 billion to $2.23 billion. Zacks' sales calculations are a mean average based on a survey of sell-side research analysts that follow BioMarin Pharmaceutical.
BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Tuesday, October 26th. The biotechnology company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.05. The company had revenue of $408.74 million during the quarter, compared to the consensus estimate of $435.29 million. BioMarin Pharmaceutical had a return on equity of 2.02% and a net margin of 0.86%. The company's revenue was down 14.3% on a year-over-year basis. During the same period last year, the firm earned $0.29 earnings per share.
A number of equities analysts recently commented on the company. SVB Leerink reiterated a "buy" rating on shares of BioMarin Pharmaceutical in a research note on Thursday, December 2nd. Oppenheimer lifted their target price on BioMarin Pharmaceutical from $84.00 to $95.00 and gave the company a "market perform" rating in a research note on Monday, November 22nd. Guggenheim lifted their target price on BioMarin Pharmaceutical from $103.00 to $120.00 and gave the company a "buy" rating in a research note on Monday, November 22nd. Morgan Stanley lifted their target price on BioMarin Pharmaceutical from $82.00 to $90.00 and gave the company an "equal weight" rating in a research note on Monday, November 22nd. Finally, Royal Bank of Canada restated a "hold" rating and issued a $88.00 target price on shares of BioMarin Pharmaceutical in a research note on Tuesday, September 7th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $107.53.
In other BioMarin Pharmaceutical news, EVP Jeffrey Robert Ajer sold 2,739 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Tuesday, October 26th. The shares were sold at an average price of $73.60, for a total value of $201,590.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jean Jacques Bienaime sold 6,000 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Wednesday, December 15th. The stock was sold at an average price of $82.71, for a total transaction of $496,260.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,239 shares of company stock worth $828,680. 1.69% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the business. Itau Unibanco Holding S.A. acquired a new position in BioMarin Pharmaceutical in the second quarter worth approximately $34,000. Ancora Advisors LLC grew its position in BioMarin Pharmaceutical by 466.7% during the 3rd quarter. Ancora Advisors LLC now owns 425 shares of the biotechnology company's stock worth $33,000 after purchasing an additional 350 shares in the last quarter. Liberty Wealth Management LLC grew its position in BioMarin Pharmaceutical by 181.7% during the 3rd quarter. Liberty Wealth Management LLC now owns 431 shares of the biotechnology company's stock worth $34,000 after purchasing an additional 278 shares in the last quarter. Covington Capital Management grew its position in BioMarin Pharmaceutical by 142.7% during the 2nd quarter. Covington Capital Management now owns 500 shares of the biotechnology company's stock worth $42,000 after purchasing an additional 294 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new position in BioMarin Pharmaceutical during the 2nd quarter worth approximately $41,000. Hedge funds and other institutional investors own 94.28% of the company's stock.
Shares of BioMarin Pharmaceutical stock opened at $88.35 on Friday. The company has a market capitalization of $16.22 billion, a PE ratio of 1,104.38, a P/E/G ratio of 9.63 and a beta of 0.49. BioMarin Pharmaceutical has a 1-year low of $71.59 and a 1-year high of $92.20. The business has a 50-day moving average of $84.80 and a 200-day moving average of $81.07. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.49 and a quick ratio of 3.03.
BioMarin Pharmaceutical Company Profile
BioMarin Pharmaceutical, Inc engages in the development and commercialization of therapies for people with serious and life-threatening rare diseases and medical conditions. Its pipeline products include Valoctocogene roxaparvovec, Vosoritide, and BMN 307. The company was founded by John C. Klock, Christopher M.
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