BioMarin Pharmaceutical (BMRN) to Release Quarterly Earnings on Wednesday

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, April 24th. Analysts expect the company to announce earnings of $0.60 per share for the quarter. BioMarin Pharmaceutical has set its FY24 guidance at $2.60-2.80 EPS and its FY 2024 guidance at 2.600-2.800 EPS.Persons that are interested in participating in the company's earnings conference call can do so using this link.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.05. The business had revenue of $646.21 million during the quarter, compared to analysts' expectations of $639.53 million. BioMarin Pharmaceutical had a return on equity of 5.01% and a net margin of 6.93%. The company's revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.11 EPS. On average, analysts expect BioMarin Pharmaceutical to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN stock traded down $0.40 on Wednesday, hitting $90.47. The company had a trading volume of 1,282,481 shares, compared to its average volume of 1,354,074. The firm has a market cap of $17.07 billion, a P/E ratio of 103.29, a price-to-earnings-growth ratio of 1.69 and a beta of 0.31. The company has a 50-day moving average price of $87.55 and a 200-day moving average price of $89.10. The company has a quick ratio of 1.57, a current ratio of 2.51 and a debt-to-equity ratio of 0.12. BioMarin Pharmaceutical has a twelve month low of $76.02 and a twelve month high of $100.31.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BMRN. Cantor Fitzgerald reissued an "overweight" rating and issued a $100.00 price objective on shares of BioMarin Pharmaceutical in a report on Friday, February 23rd. Piper Sandler decreased their price objective on BioMarin Pharmaceutical from $115.00 to $107.00 and set an "overweight" rating for the company in a report on Friday, February 23rd. Robert W. Baird cut their price target on BioMarin Pharmaceutical from $127.00 to $104.00 and set an "outperform" rating for the company in a research note on Tuesday, January 30th. Canaccord Genuity Group restated a "hold" rating and issued a $91.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, February 29th. Finally, Stifel Nicolaus restated a "buy" rating and issued a $101.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, December 21st. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $107.61.

Insiders Place Their Bets

In related news, insider Henry J. Fuchs sold 35,341 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $85.18, for a total value of $3,010,346.38. Following the completion of the sale, the insider now owns 212,117 shares of the company's stock, valued at $18,068,126.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Henry J. Fuchs sold 35,341 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $85.18, for a total value of $3,010,346.38. Following the completion of the sale, the insider now owns 212,117 shares of the company's stock, valued at $18,068,126.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jean Jacques Bienaime sold 1,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $85.51, for a total value of $85,510.00. Following the completion of the sale, the director now directly owns 561,203 shares of the company's stock, valued at approximately $47,988,468.53. The disclosure for this sale can be found here. In the last three months, insiders sold 103,229 shares of company stock worth $9,062,967. Corporate insiders own 1.84% of the company's stock.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Several hedge funds and other institutional investors have recently made changes to their positions in BMRN. Norges Bank acquired a new stake in shares of BioMarin Pharmaceutical in the fourth quarter valued at approximately $285,013,000. Viking Global Investors LP grew its position in BioMarin Pharmaceutical by 16.0% in the fourth quarter. Viking Global Investors LP now owns 4,889,454 shares of the biotechnology company's stock worth $471,441,000 after acquiring an additional 673,998 shares during the period. Point72 Asset Management L.P. purchased a new position in BioMarin Pharmaceutical in the fourth quarter worth approximately $43,900,000. Price T Rowe Associates Inc. MD grew its position in BioMarin Pharmaceutical by 33.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,605,983 shares of the biotechnology company's stock worth $154,850,000 after acquiring an additional 401,152 shares during the period. Finally, Polar Capital Holdings Plc grew its position in BioMarin Pharmaceutical by 300.0% in the first quarter. Polar Capital Holdings Plc now owns 500,000 shares of the biotechnology company's stock worth $38,550,000 after acquiring an additional 375,000 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.