BioMarin Pharmaceutical Inc. Expected to Earn FY2024 Earnings of $2.05 Per Share (NASDAQ:BMRN)

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) – Cantor Fitzgerald issued their FY2024 EPS estimates for BioMarin Pharmaceutical in a research report issued on Monday, July 22nd. Cantor Fitzgerald analyst O. Brayer anticipates that the biotechnology company will earn $2.05 per share for the year. Cantor Fitzgerald has a “Overweight” rating and a $110.00 price target on the stock. The consensus estimate for BioMarin Pharmaceutical’s current full-year earnings is $2.00 per share.

Several other equities research analysts also recently commented on BMRN. Evercore ISI assumed coverage on shares of BioMarin Pharmaceutical in a report on Tuesday, May 14th. They set an “outperform” rating and a $113.00 price objective on the stock. Morgan Stanley cut their price target on BioMarin Pharmaceutical from $115.00 to $112.00 and set an “overweight” rating for the company in a report on Friday, April 26th. Baird R W lowered BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 17th. StockNews.com lowered BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a report on Monday. Finally, Robert W. Baird lowered shares of BioMarin Pharmaceutical from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $104.00 to $72.00 in a research report on Friday, May 17th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $102.00.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN opened at $85.59 on Wednesday. BioMarin Pharmaceutical has a 1 year low of $73.68 and a 1 year high of $99.56. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.74 and a quick ratio of 1.70. The stock’s fifty day moving average price is $81.61 and its two-hundred day moving average price is $85.65. The firm has a market cap of $16.25 billion, a PE ratio of 79.99, a PEG ratio of 1.20 and a beta of 0.32.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.12. BioMarin Pharmaceutical had a net margin of 8.31% and a return on equity of 5.34%. The company had revenue of $648.83 million for the quarter, compared to analysts’ expectations of $649.75 million.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Several hedge funds have recently added to or reduced their stakes in the stock. Quent Capital LLC boosted its stake in BioMarin Pharmaceutical by 58.9% in the 2nd quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 145 shares in the last quarter. Lindbrook Capital LLC raised its holdings in BioMarin Pharmaceutical by 259.8% in the 4th quarter. Lindbrook Capital LLC now owns 385 shares of the biotechnology company’s stock worth $37,000 after acquiring an additional 278 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in BioMarin Pharmaceutical by 135.3% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 433 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 249 shares during the last quarter. Jones Financial Companies Lllp bought a new stake in shares of BioMarin Pharmaceutical in the 4th quarter worth $43,000. Finally, First Horizon Advisors Inc. raised its stake in shares of BioMarin Pharmaceutical by 33.3% in the fourth quarter. First Horizon Advisors Inc. now owns 576 shares of the biotechnology company’s stock worth $56,000 after purchasing an additional 144 shares during the last quarter. 98.71% of the stock is owned by institutional investors.

Insider Buying and Selling

In other BioMarin Pharmaceutical news, CFO Brian Mueller sold 5,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $75.19, for a total value of $375,950.00. Following the completion of the sale, the chief financial officer now owns 72,159 shares in the company, valued at approximately $5,425,635.21. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP George Eric Davis sold 1,850 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $85.01, for a total value of $157,268.50. Following the completion of the transaction, the executive vice president now directly owns 56,157 shares in the company, valued at approximately $4,773,906.57. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Brian Mueller sold 5,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $75.19, for a total transaction of $375,950.00. Following the completion of the sale, the chief financial officer now owns 72,159 shares in the company, valued at approximately $5,425,635.21. The disclosure for this sale can be found here. Insiders have sold 67,700 shares of company stock valued at $5,209,352 over the last ninety days. 1.85% of the stock is owned by insiders.

About BioMarin Pharmaceutical

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.