BioMarin Pharmaceutical (NASDAQ:BMRN) Releases Quarterly Earnings Results, Beats Estimates By $0.31 EPS

BioMarin Pharmaceutical (NASDAQ:BMRN) released its earnings results on Monday. The biotechnology company reported $0.23 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.31, FiscalAI reports. BioMarin Pharmaceutical had a return on equity of 5.32% and a net margin of 2.14%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion.

BioMarin Pharmaceutical Trading Down 1.8%

Shares of BMRN stock traded down $1.07 on Monday, hitting $57.44. 3,139,899 shares of the stock traded hands, compared to its average volume of 2,112,647. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.32 and a current ratio of 2.39. BioMarin Pharmaceutical has a twelve month low of $49.26 and a twelve month high of $70.98. The firm’s 50-day moving average price is $60.62 and its two-hundred day moving average price is $58.44. The stock has a market capitalization of $11.12 billion, a PE ratio of 155.24, a PEG ratio of 0.64 and a beta of 0.22.

Analyst Ratings Changes

BMRN has been the subject of a number of research reports. Canaccord Genuity Group upped their target price on shares of BioMarin Pharmaceutical from $111.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Jefferies Financial Group raised their price target on shares of BioMarin Pharmaceutical from $104.00 to $105.00 and gave the stock a “buy” rating in a research note on Monday, August 31st. Cantor Fitzgerald restated an “overweight” rating and set a $86.00 price target on shares of BioMarin Pharmaceutical in a research report on Tuesday, October 20th. UBS Group started coverage on shares of BioMarin Pharmaceutical in a research note on Thursday, October 15th. They set a “buy” rating and a $88.00 price objective for the company. Finally, Morgan Stanley cut their price objective on shares of BioMarin Pharmaceutical from $124.00 to $122.00 and set an “overweight” rating for the company in a report on Wednesday, October 21st. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $88.38.

BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical Inc is a biotechnology company focused on developing and commercializing therapies for serious and life-threatening rare diseases. The company’s research and development efforts center on genetic and metabolic disorders, where patient populations are often small and treatment options are limited.

BioMarin’s marketed products include Voxzogo (vosoritide) for children with achondroplasia and open growth plates, Palynziq (pegvaliase) and Kuvan (sapropterin dihydrochloride) for phenylketonuria, Brineura (cerliponase alfa) for late-infantile neuronal ceroid lipofuscinosis type 2, Vimizim (elosulfase alfa) for Morquio A syndrome, and Naglazyme (galsulfase) for mucopolysaccharidosis VI.