What is Zacks Research’s Forecast for BMRN FY2024 Earnings?

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) – Equities research analysts at Zacks Research lifted their FY2024 earnings per share (EPS) estimates for BioMarin Pharmaceutical in a research note issued on Tuesday, November 19th. Zacks Research analyst S. Ganoria now anticipates that the biotechnology company will post earnings of $2.46 per share for the year, up from their prior estimate of $2.32. The consensus estimate for BioMarin Pharmaceutical’s current full-year earnings is $2.47 per share. Zacks Research also issued estimates for BioMarin Pharmaceutical’s Q4 2024 earnings at $0.49 EPS, Q3 2025 earnings at $0.72 EPS, Q4 2025 earnings at $0.66 EPS, FY2025 earnings at $2.65 EPS and Q3 2026 earnings at $0.86 EPS.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.23). The firm had revenue of $746.00 million during the quarter, compared to analyst estimates of $703.37 million. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. BioMarin Pharmaceutical’s revenue was up 28.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.26 earnings per share.

Other analysts also recently issued reports about the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $80.00 price objective on shares of BioMarin Pharmaceutical in a research note on Wednesday, October 30th. Wedbush upgraded shares of BioMarin Pharmaceutical to a “strong-buy” rating in a research report on Monday, November 4th. Piper Sandler boosted their target price on BioMarin Pharmaceutical from $107.00 to $122.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Truist Financial cut their target price on BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Finally, Canaccord Genuity Group dropped their price objective on BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $94.20.

BioMarin Pharmaceutical Stock Up 1.4 %

Shares of NASDAQ:BMRN opened at $63.44 on Friday. The firm has a fifty day moving average price of $68.67 and a 200 day moving average price of $78.60. BioMarin Pharmaceutical has a 1-year low of $61.15 and a 1-year high of $99.56. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 2.62. The stock has a market cap of $12.09 billion, a P/E ratio of 37.99, a P/E/G ratio of 0.61 and a beta of 0.31.

Insider Buying and Selling

In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 5,278 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total value of $350,300.86. Following the completion of the sale, the executive vice president now owns 68,909 shares of the company’s stock, valued at $4,573,490.33. This trade represents a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.85% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Innealta Capital LLC acquired a new stake in shares of BioMarin Pharmaceutical during the second quarter worth approximately $25,000. BOKF NA acquired a new position in BioMarin Pharmaceutical during the 2nd quarter worth $31,000. Quent Capital LLC increased its position in shares of 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 during the last quarter. nVerses Capital LLC acquired a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter valued at about $28,000. Finally, TD Private Client Wealth LLC lifted its position in shares of BioMarin Pharmaceutical by 57.4% during the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 186 shares during the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

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.