FY2024 EPS Estimates for BMRN Increased by Cantor Fitzgerald

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) – Research analysts at Cantor Fitzgerald raised their FY2024 earnings per share estimates for shares of BioMarin Pharmaceutical in a research report issued on Wednesday, October 30th. Cantor Fitzgerald analyst O. Brayer now expects that the biotechnology company will earn $2.43 per share for the year, up from their previous estimate of $2.36. Cantor Fitzgerald has a “Overweight” rating and a $90.00 price objective on the stock. The consensus estimate for BioMarin Pharmaceutical’s current full-year earnings is $2.39 per share.

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

A number of other research analysts also recently weighed in on BMRN. StockNews.com raised BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Wells Fargo & Company cut their price target on BioMarin Pharmaceutical from $115.00 to $90.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 17th. Canaccord Genuity Group cut their price target on BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a research note on Wednesday. Robert W. Baird cut their price target on BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, TD Cowen lowered their price objective on shares of BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $93.67.

BioMarin Pharmaceutical Stock Performance

BMRN stock opened at $66.60 on Thursday. The business’s fifty day moving average is $75.13 and its 200-day moving average is $80.67. The company has a quick ratio of 1.95, a current ratio of 4.27 and a debt-to-equity ratio of 0.11. The company has a market cap of $12.65 billion, a P/E ratio of 39.88, a price-to-earnings-growth ratio of 0.77 and a beta of 0.31. BioMarin Pharmaceutical has a twelve month low of $65.35 and a twelve month high of $99.56.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Large investors have recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in BioMarin Pharmaceutical during the 2nd quarter worth about $25,000. BOKF NA bought a new position in shares of BioMarin Pharmaceutical in the 2nd quarter valued at about $31,000. Quent Capital LLC grew its holdings 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 valued at $32,000 after acquiring an additional 145 shares in the last quarter. nVerses Capital LLC bought a new position in shares of BioMarin Pharmaceutical in the 3rd quarter valued at about $28,000. Finally, Itau Unibanco Holding S.A. bought a new position in shares of BioMarin Pharmaceutical in the 2nd quarter valued at about $47,000. Institutional investors own 98.71% of the company’s stock.

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.