$349.10 Million in Sales Expected for BioMarin Pharmaceutical Inc. (BMRN) This Quarter
Wall Street analysts predict that BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) will announce sales of $349.10 million for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have made estimates for BioMarin Pharmaceutical’s earnings. The lowest sales estimate is $331.33 million and the highest is $362.04 million. BioMarin Pharmaceutical reported sales of $300.09 million during the same quarter last year, which would suggest a positive year over year growth rate of 16.3%. The business is expected to announce its next earnings results on Thursday, February 22nd.
On average, analysts expect that BioMarin Pharmaceutical will report full-year sales of $349.10 million for the current fiscal year, with estimates ranging from $1.29 billion to $1.31 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.50 billion per share, with estimates ranging from $1.42 billion to $1.71 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover BioMarin Pharmaceutical.
BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Thursday, October 26th. The biotechnology company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.06. BioMarin Pharmaceutical had a negative net margin of 12.45% and a negative return on equity of 4.60%. The business had revenue of $334.18 million for the quarter, compared to analysts’ expectations of $347.38 million. During the same period in the previous year, the business earned $0.02 earnings per share. The company’s revenue was up 19.4% on a year-over-year basis.
BMRN has been the topic of a number of recent analyst reports. Cowen and Company restated a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Tuesday, July 11th. Deutsche Bank AG restated a “buy” rating and set a $119.00 price objective (up from $118.00) on shares of BioMarin Pharmaceutical in a research note on Thursday, August 3rd. Leerink Swann restated a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Tuesday, July 18th. SunTrust Banks, Inc. restated a “buy” rating and set a $115.00 price objective on shares of BioMarin Pharmaceutical in a research note on Friday, July 14th. Finally, Stifel Nicolaus restated a “buy” rating and set a $107.00 price objective on shares of BioMarin Pharmaceutical in a research note on Friday, August 4th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the stock. BioMarin Pharmaceutical presently has an average rating of “Hold” and an average target price of $111.55.
In other BioMarin Pharmaceutical news, Director V Bryan Lawlis sold 3,750 shares of BioMarin Pharmaceutical stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $91.26, for a total transaction of $342,225.00. Following the transaction, the director now owns 19,660 shares of the company’s stock, valued at approximately $1,794,171.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Henry J. Fuchs sold 15,000 shares of BioMarin Pharmaceutical stock in a transaction dated 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 transaction, the insider now directly owns 141,422 shares in the company, valued at approximately $12,798,691. The disclosure for this sale can be found here. Insiders sold a total of 40,686 shares of company stock worth $3,736,318 in the last three months. 1.85% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the business. Cigna Investments Inc. New grew its stake in BioMarin Pharmaceutical by 1.5% during the 2nd quarter. Cigna Investments Inc. New now owns 2,377 shares of the biotechnology company’s stock valued at $216,000 after acquiring an additional 36 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in BioMarin Pharmaceutical by 1.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 4,950 shares of the biotechnology company’s stock valued at $450,000 after acquiring an additional 50 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in BioMarin Pharmaceutical by 1.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,126 shares of the biotechnology company’s stock valued at $284,000 after acquiring an additional 54 shares in the last quarter. NGAM Advisors L.P. grew its stake in BioMarin Pharmaceutical by 0.4% during the 2nd quarter. NGAM Advisors L.P. now owns 15,245 shares of the biotechnology company’s stock valued at $1,385,000 after acquiring an additional 55 shares in the last quarter. Finally, Symphony Asset Management LLC grew its stake in BioMarin Pharmaceutical by 1.1% during the 2nd quarter. Symphony Asset Management LLC now owns 6,465 shares of the biotechnology company’s stock valued at $587,000 after acquiring an additional 73 shares in the last quarter. 97.39% of the stock is currently owned by institutional investors.
Shares of BioMarin Pharmaceutical (BMRN) opened at $83.77 on Wednesday. BioMarin Pharmaceutical has a one year low of $79.50 and a one year high of $100.51. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.81 and a current ratio of 4.91.
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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).
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