BioMarin Pharmaceutical (BMRN) to Release Quarterly Earnings on Tuesday

BioMarin Pharmaceutical (NASDAQ:BMRN) will announce its earnings results after the market closes on Tuesday, October 29th. Analysts expect the company to announce earnings of $0.78 per share for the quarter. BioMarin Pharmaceutical has set its FY24 guidance at $3.10-3.25 EPS and its FY 2024 guidance at 3.100-3.250 EPS.Investors interested in listening to the company’s conference call can do so using this link.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results on Monday, August 5th. The biotechnology company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.38 by $0.39. The business had revenue of $712.03 million during the quarter, compared to analysts’ expectations of $660.51 million. BioMarin Pharmaceutical had a return on equity of 6.91% and a net margin of 9.91%. On average, analysts expect BioMarin Pharmaceutical to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

BioMarin Pharmaceutical Stock Up 0.2 %

NASDAQ:BMRN opened at $70.28 on Tuesday. The business’s fifty day moving average price is $79.10 and its 200 day moving average price is $81.86. The firm has a market capitalization of $13.34 billion, a price-to-earnings ratio of 65.68, a PEG ratio of 0.81 and a beta of 0.31. The company has a current ratio of 3.05, a quick ratio of 1.95 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical has a 1-year low of $67.75 and a 1-year high of $99.56.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on BMRN shares. Bank of America reduced their price target on shares of BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Truist Financial lowered their price target on shares of BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. William Blair raised shares of BioMarin Pharmaceutical to a “strong-buy” rating in a research note on Friday, August 30th. JPMorgan Chase & Co. boosted their target price on BioMarin Pharmaceutical from $111.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. Finally, Raymond James reaffirmed an “outperform” rating and set a $79.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, October 10th. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $96.40.

BioMarin Pharmaceutical Company Profile

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.