BioMarin Pharmaceutical (NASDAQ:BMRN) Releases Quarterly Earnings Results, Beats Estimates By $0.18 EPS

BioMarin Pharmaceutical (NASDAQ:BMRN) released its quarterly earnings results on Wednesday. The biotechnology company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.54 by $0.18, Zacks reports. BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%.

BioMarin Pharmaceutical Price Performance

Shares of BMRN traded up $0.75 during trading hours on Wednesday, reaching $65.61. The company had a trading volume of 1,532,961 shares, compared to its average volume of 1,498,847. The firm has a 50 day simple moving average of $64.79 and a 200-day simple moving average of $71.10. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $12.50 billion, a price-to-earnings ratio of 39.29, a PEG ratio of 0.57 and a beta of 0.28. BioMarin Pharmaceutical has a 12-month low of $60.63 and a 12-month high of $94.85.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BMRN. Evercore ISI lowered their price target on BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. StockNews.com upgraded BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. William Blair lowered BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. Wedbush upgraded BioMarin Pharmaceutical to a “strong-buy” rating in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. decreased their target price on BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $94.20.

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.