BioMarin Pharmaceutical (NASDAQ:BMRN) Posts Quarterly Earnings Results, Beats Expectations By $0.31 EPS

BioMarin Pharmaceutical (NASDAQ:BMRN) issued its earnings results on Monday. The biotechnology company reported $0.23 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.31, FiscalAI reports. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. BioMarin Pharmaceutical had a net margin of 2.14% and a return on equity of 5.32%.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ:BMRN traded down $1.07 during midday trading on Monday, reaching $57.44. The company’s stock had a trading volume of 3,142,090 shares, compared to its average volume of 2,112,647. BioMarin Pharmaceutical has a fifty-two week low of $49.26 and a fifty-two week high of $70.98. The company has a market capitalization of $11.12 billion, a P/E ratio of 155.24, a P/E/G ratio of 0.64 and a beta of 0.22. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.39 and a quick ratio of 1.32. The business’s fifty day simple moving average is $60.62 and its 200-day simple moving average is $58.44.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on BMRN shares. HC Wainwright reaffirmed a “neutral” rating and set a $60.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, September 10th. Raymond James Financial raised BioMarin Pharmaceutical from an “outperform” rating to a “strong-buy” rating and set a $109.00 price target on the stock in a research note on Monday, October 12th. Weiss Ratings lowered BioMarin Pharmaceutical from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, September 18th. Barclays lifted their price objective on BioMarin Pharmaceutical from $111.00 to $114.00 and gave the company an “overweight” rating in a report on Wednesday, October 14th. Finally, William Blair upgraded shares of BioMarin Pharmaceutical to a “hold” rating in a research note on Wednesday, September 23rd. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and a consensus price target of $88.38.

BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical Inc is a biotechnology company focused on developing and commercializing therapies for serious and life-threatening rare diseases. The company’s research and development efforts center on genetic and metabolic disorders, where patient populations are often small and treatment options are limited.

BioMarin’s marketed products include Voxzogo (vosoritide) for children with achondroplasia and open growth plates, Palynziq (pegvaliase) and Kuvan (sapropterin dihydrochloride) for phenylketonuria, Brineura (cerliponase alfa) for late-infantile neuronal ceroid lipofuscinosis type 2, Vimizim (elosulfase alfa) for Morquio A syndrome, and Naglazyme (galsulfase) for mucopolysaccharidosis VI.