BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) – Analysts at Gabelli upped their FY2021 earnings estimates for BioMarin Pharmaceutical in a report released on Monday, August 5th, Zacks Investment Research reports. Gabelli analyst J. He now anticipates that the biotechnology company will post earnings of $1.57 per share for the year, up from their previous forecast of $1.42.
BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.16). The business had revenue of $388.00 million for the quarter, compared to analyst estimates of $415.03 million. BioMarin Pharmaceutical had a negative return on equity of 3.12% and a negative net margin of 7.19%. BioMarin Pharmaceutical’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.09) EPS.
Other equities analysts also recently issued research reports about the company. Citigroup reissued a “buy” rating on shares of BioMarin Pharmaceutical in a research report on Thursday, May 23rd. JPMorgan Chase & Co. restated a “buy” rating and set a $133.00 price objective on shares of BioMarin Pharmaceutical in a report on Monday, August 5th. TheStreet cut BioMarin Pharmaceutical from a “c-” rating to a “d+” rating in a report on Tuesday, May 7th. Wedbush restated an “outperform” rating and set a $128.00 price objective on shares of BioMarin Pharmaceutical in a report on Wednesday, July 10th. Finally, BidaskClub cut BioMarin Pharmaceutical from a “sell” rating to a “strong sell” rating in a report on Friday, July 26th. Two analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $115.60.
NASDAQ BMRN traded up $0.45 during trading on Thursday, reaching $75.06. 418,317 shares of the company’s stock were exchanged, compared to its average volume of 1,281,451. The business has a 50 day moving average price of $78.34 and a 200-day moving average price of $85.11. The stock has a market capitalization of $13.39 billion, a P/E ratio of -227.45 and a beta of 1.35. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.11 and a quick ratio of 2.79. BioMarin Pharmaceutical has a fifty-two week low of $71.53 and a fifty-two week high of $106.74.
In related news, Director V Bryan Lawlis sold 3,750 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $81.08, for a total value of $304,050.00. Following the completion of the sale, the director now directly owns 27,340 shares in the company, valued at $2,216,727.20. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.90% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Rational Advisors LLC lifted its stake in BioMarin Pharmaceutical by 3,211.1% during the first quarter. Rational Advisors LLC now owns 298 shares of the biotechnology company’s stock worth $26,000 after purchasing an additional 289 shares during the last quarter. Doyle Wealth Management bought a new stake in BioMarin Pharmaceutical during the second quarter worth $26,000. Twin Tree Management LP bought a new stake in BioMarin Pharmaceutical during the first quarter worth $36,000. Berman Capital Advisors LLC lifted its stake in BioMarin Pharmaceutical by 56.8% during the first quarter. Berman Capital Advisors LLC now owns 417 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 151 shares during the last quarter. Finally, Trust Co. of Vermont bought a new stake in BioMarin Pharmaceutical during the first quarter worth $44,000. Institutional investors and hedge funds own 96.32% of the company’s stock.
BioMarin Pharmaceutical Company Profile
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.