BioMarin Pharmaceutical (NASDAQ:BMRN) Issues Earnings Results

BioMarin Pharmaceutical (NASDAQ:BMRN) posted its quarterly earnings results on Tuesday. The biotechnology company reported $0.55 earnings per share (EPS) 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 analyst estimates of $703.37 million. BioMarin Pharmaceutical had a net margin of 9.91% and a return on equity of 6.91%. BioMarin Pharmaceutical’s revenue was up 28.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.26 earnings per share.

BioMarin Pharmaceutical Trading Down 3.9 %

Shares of BMRN traded down $2.70 during trading hours on Wednesday, hitting $67.21. The stock had a trading volume of 259,149 shares, compared to its average volume of 1,836,866. The company’s fifty day simple moving average is $76.60 and its 200 day simple moving average is $81.04. BioMarin Pharmaceutical has a 12-month low of $65.78 and a 12-month high of $99.56. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.95 and a current ratio of 3.05. The firm has a market cap of $12.76 billion, a P/E ratio of 62.81, a P/E/G ratio of 0.81 and a beta of 0.31.

Wall Street Analyst Weigh In

A number of analysts have commented on BMRN shares. Bank of America decreased their target price on BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Scotiabank cut their target price on shares of BioMarin Pharmaceutical from $95.00 to $78.00 and set a “sector perform” rating for the company in a research report on Tuesday, September 17th. William Blair downgraded shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a report on Wednesday. Cantor Fitzgerald reissued an “overweight” rating and set a $110.00 price objective on shares of BioMarin Pharmaceutical in a research note on Monday, September 9th. Finally, Sanford C. Bernstein reduced their target price on BioMarin Pharmaceutical from $116.00 to $90.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 17th. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $96.52.

BioMarin Pharmaceutical Company Profile

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.