Equities Analysts Set Expectations for BioMarin Pharmaceutical Inc.’s FY2020 Earnings (BMRN)

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) – Investment analysts at Gabelli lowered their FY2020 earnings estimates for shares of BioMarin Pharmaceutical in a research note issued on Friday, Zacks Investment Research reports. Gabelli analyst J. He now anticipates that the biotechnology company will post earnings of $2.45 per share for the year, down from their prior estimate of $2.50. Gabelli also issued estimates for BioMarin Pharmaceutical’s FY2021 earnings at $3.15 EPS.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Thursday, October 26th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.06. BioMarin Pharmaceutical had a negative return on equity of 4.60% and a negative net margin of 12.45%. The firm had revenue of $334.18 million for the quarter, compared to the consensus estimate of $347.38 million. During the same quarter last year, the business posted $0.02 EPS. The company’s revenue for the quarter was up 19.4% on a year-over-year basis.

ILLEGAL ACTIVITY NOTICE: This story was reported by Week Herald and is the property of of Week Herald. If you are reading this story on another domain, it was illegally copied and republished in violation of US & international copyright laws. The original version of this story can be read at https://weekherald.com/2017/11/15/fy2020-earnings-estimate-for-biomarin-pharmaceutical-inc-bmrn-issued-by-gabelli.html.

Other analysts also recently issued research reports about the company. Leerink Swann reaffirmed a “buy” rating on shares of BioMarin Pharmaceutical in a research report on Tuesday, July 18th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $119.00 target price (up previously from $118.00) on shares of BioMarin Pharmaceutical in a research report on Wednesday, August 9th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $107.00 target price on shares of BioMarin Pharmaceutical in a research report on Friday, August 4th. Cowen and Company reaffirmed a “buy” rating on shares of BioMarin Pharmaceutical in a research report on Friday, August 4th. Finally, Jefferies Group LLC set a $116.00 target price on BioMarin Pharmaceutical and gave the company a “buy” rating in a research report on Friday, August 25th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $111.55.

Shares of BioMarin Pharmaceutical (BMRN) opened at $81.41 on Monday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.81 and a current ratio of 4.91. BioMarin Pharmaceutical has a 12 month low of $79.50 and a 12 month high of $100.51.

In related news, EVP Jeffrey Robert Ajer sold 3,521 shares of the business’s stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $95.00, for a total value of $334,495.00. Following the completion of the sale, the executive vice president now directly owns 49,299 shares in the company, valued at $4,683,405. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Henry J. Fuchs sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $90.50, for a total value of $1,357,500.00. Following the completion of the sale, the insider now owns 141,422 shares of the company’s stock, valued at $12,798,691. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,686 shares of company stock valued at $3,736,318. 1.85% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of BMRN. Korea Investment CORP boosted its stake in shares of BioMarin Pharmaceutical by 143.5% in the second quarter. Korea Investment CORP now owns 1,595 shares of the biotechnology company’s stock valued at $145,000 after buying an additional 940 shares during the period. Global X Management Co. LLC lifted its stake in BioMarin Pharmaceutical by 16.8% during the second quarter. Global X Management Co. LLC now owns 1,935 shares of the biotechnology company’s stock worth $176,000 after purchasing an additional 279 shares during the last quarter. Toronto Dominion Bank lifted its stake in BioMarin Pharmaceutical by 12.9% during the second quarter. Toronto Dominion Bank now owns 2,124 shares of the biotechnology company’s stock worth $193,000 after purchasing an additional 243 shares during the last quarter. Commerce Bank bought a new stake in BioMarin Pharmaceutical during the third quarter worth $209,000. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in BioMarin Pharmaceutical during the second quarter worth $213,000. Institutional investors and hedge funds own 96.89% of the company’s stock.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc is a biotechnology company. The Company develops and commercializes pharmaceuticals for various diseases and medical conditions. As of December 31, 2016, the Company’s therapy portfolio consisted of five products, and multiple clinical and pre-clinical product candidates. Its commercial products include Aldurazyme (laronidase) for Mucopolysaccharidosis I (MPS I), Firdapse (amifampridine phosphate) for Lambert Eaton Myasthenic Syndrome (LEMS), Kuvan (sapropterin dihydrochloride) for phenylketonuria (PKU), Naglazyme (galsulfase) for Mucopolysaccharidosis VI (MPS VI) and Vimizim (elosulfase alpha) for Mucopolysaccharidosis IV Type A (MPS IV A).

Get a free copy of the Zacks research report on BioMarin Pharmaceutical (BMRN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for BioMarin Pharmaceutical (NASDAQ:BMRN)

Receive News & Ratings for BioMarin Pharmaceutical Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioMarin Pharmaceutical Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply