BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Expected to Post Quarterly Sales of $410.70 Million

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Brokerages expect BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) to report $410.70 million in sales for the current quarter, according to Zacks Investment Research. Ten analysts have issued estimates for BioMarin Pharmaceutical’s earnings, with the lowest sales estimate coming in at $399.30 million and the highest estimate coming in at $421.90 million. BioMarin Pharmaceutical reported sales of $372.85 million in the same quarter last year, which indicates a positive year over year growth rate of 10.2%. The business is expected to report its next earnings report on Thursday, August 1st.

On average, analysts expect that BioMarin Pharmaceutical will report full-year sales of $1.69 billion for the current year, with estimates ranging from $1.67 billion to $1.71 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.96 billion, with estimates ranging from $1.81 billion to $2.11 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for BioMarin Pharmaceutical.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Thursday, April 25th. The biotechnology company reported ($0.10) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.02. The business had revenue of $400.70 million during the quarter, compared to the consensus estimate of $389.95 million. BioMarin Pharmaceutical had a negative net margin of 5.90% and a negative return on equity of 2.97%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.12 EPS.

Several brokerages have issued reports on BMRN. BidaskClub upgraded shares of BioMarin Pharmaceutical from a “strong sell” rating to a “sell” rating in a research report on Tuesday. TheStreet cut shares of BioMarin Pharmaceutical from a “c-” rating to a “d+” rating in a research report on Tuesday, May 7th. JPMorgan Chase & Co. restated a “buy” rating on shares of BioMarin Pharmaceutical in a research report on Sunday, June 2nd. Cantor Fitzgerald restated a “buy” rating and issued a $131.00 price target on shares of BioMarin Pharmaceutical in a research report on Tuesday, April 2nd. Finally, ValuEngine cut shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Thursday, March 21st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $116.00.

In other news, Director V Bryan Lawlis sold 2,150 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $89.76, for a total transaction of $192,984.00. Following the completion of the sale, the director now directly owns 21,310 shares in the company, valued at $1,912,785.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Daniel K. Spiegelman sold 13,473 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $89.00, for a total transaction of $1,199,097.00. Following the sale, the chief financial officer now owns 47,510 shares of the company’s stock, valued at $4,228,390. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 80,815 shares of company stock valued at $7,195,608. 1.97% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Slow Capital Inc. lifted its stake in shares of BioMarin Pharmaceutical by 2.4% in the first quarter. Slow Capital Inc. now owns 7,148 shares of the biotechnology company’s stock valued at $635,000 after buying an additional 170 shares in the last quarter. Aristeia Capital LLC bought a new position in shares of BioMarin Pharmaceutical in the first quarter valued at $3,447,000. Covenant Partners LLC bought a new position in shares of BioMarin Pharmaceutical in the first quarter valued at $274,000. CWM Advisors LLC lifted its stake in shares of BioMarin Pharmaceutical by 70.6% in the first quarter. CWM Advisors LLC now owns 5,049 shares of the biotechnology company’s stock valued at $449,000 after buying an additional 2,089 shares in the last quarter. Finally, RMB Capital Management LLC lifted its stake in shares of BioMarin Pharmaceutical by 4.2% in the first quarter. RMB Capital Management LLC now owns 3,697 shares of the biotechnology company’s stock valued at $328,000 after buying an additional 148 shares in the last quarter. Institutional investors own 98.54% of the company’s stock.

NASDAQ:BMRN traded up $1.21 on Friday, hitting $82.30. The company had a trading volume of 54,083 shares, compared to its average volume of 1,169,090. The company has a market cap of $14.52 billion, a price-to-earnings ratio of -250.64 and a beta of 1.40. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.83 and a quick ratio of 2.76. BioMarin Pharmaceutical has a 52 week low of $79.13 and a 52 week high of $106.74.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc, a biotechnology company, develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Aldurazyme to treat mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; 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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