BioMarin Pharmaceutical (NASDAQ:BMRN) Issues Earnings Results

BioMarin Pharmaceutical (NASDAQ:BMRN) issued its quarterly earnings data on Tuesday. The biotechnology company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23), Briefing.com reports. The firm had revenue of $746.00 million for the quarter, compared to the consensus estimate of $703.37 million. BioMarin Pharmaceutical had a return on equity of 6.91% and a net margin of 9.91%. The company’s revenue was up 28.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.26 EPS.

BioMarin Pharmaceutical Stock Performance

BioMarin Pharmaceutical stock traded down $1.83 during midday trading on Wednesday, reaching $68.08. 999,087 shares of the company traded hands, compared to its average volume of 1,840,389. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.05 and a quick ratio of 1.95. BioMarin Pharmaceutical has a 12 month low of $65.78 and a 12 month high of $99.56. The firm has a market capitalization of $12.93 billion, a price-to-earnings ratio of 63.82, a price-to-earnings-growth ratio of 0.81 and a beta of 0.31. The business has a 50 day moving average of $76.60 and a two-hundred day moving average of $81.04.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BMRN. StockNews.com upgraded shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Robert W. Baird reduced their price objective on BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating for the company in a research note on Wednesday. William Blair cut BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Wells Fargo & Company decreased their price objective on shares of BioMarin Pharmaceutical from $115.00 to $90.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 17th. Finally, Canaccord Genuity Group reiterated a “hold” rating and set a $93.00 price objective on shares of BioMarin Pharmaceutical in a research report on Friday, September 13th. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $96.05.

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.