BioMarin Pharmaceutical (NASDAQ:BMRN) Releases Quarterly Earnings Results

by · The Cerbat Gem

BioMarin Pharmaceutical (NASDAQ:BMRN – Get Free Report) posted its quarterly earnings data on Tuesday. The biotechnology company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23), Briefing.com reports. The company had revenue of $746.00 million for the quarter, compared to analysts’ expectations of $703.37 million. BioMarin Pharmaceutical had a return on equity of 6.91% and a net margin of 9.91%. The firm’s revenue was up 28.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.26 EPS.

BioMarin Pharmaceutical Stock Performance

BMRN traded down $2.70 during trading on Wednesday, reaching $67.21. The company’s stock had a trading volume of 259,149 shares, compared to its average volume of 1,836,866. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.95 and a current ratio of 3.05. BioMarin Pharmaceutical has a 52-week low of $65.78 and a 52-week high of $99.56. The company has a market capitalization of $12.76 billion, a price-to-earnings ratio of 62.81, a price-to-earnings-growth ratio of 0.81 and a beta of 0.31. The company’s fifty day moving average price is $76.60 and its 200-day moving average price is $81.04.

Wall Street Analysts Forecast Growth

BMRN has been the topic of a number of analyst reports. Piper Sandler increased their price target on BioMarin Pharmaceutical from $107.00 to $122.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. Stifel Nicolaus lowered their target price on shares of BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Canaccord Genuity Group reiterated a “hold” rating and issued a $93.00 price objective on shares of BioMarin Pharmaceutical in a report on Friday, September 13th. StockNews.com upgraded shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Finally, Truist Financial decreased their price objective on shares of BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $96.52.

View Our Latest Stock Analysis on BioMarin Pharmaceutical

BioMarin Pharmaceutical Company Profile

(Get Free Report)

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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