BioMarin Pharmaceutical (NASDAQ:BMRN) Issues Quarterly Earnings Results

BioMarin Pharmaceutical (NASDAQ:BMRN) announced its quarterly earnings data on Monday. The biotechnology company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.31, FiscalAI reports. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. BioMarin Pharmaceutical had a return on equity of 5.32% and a net margin of 2.14%.

BioMarin Pharmaceutical Stock Down 1.8%

BMRN stock traded down $1.07 on Monday, hitting $57.44. 3,139,899 shares of the company’s stock were exchanged, compared to its average volume of 2,112,647. The stock has a market cap of $11.12 billion, a P/E ratio of 155.24, a price-to-earnings-growth ratio of 0.64 and a beta of 0.22. 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 12-month low of $49.26 and a 12-month high of $70.98. The firm has a 50 day moving average price of $60.62 and a two-hundred day moving average price of $58.44.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BMRN shares. BMO Capital Markets reissued an “outperform” rating on shares of BioMarin Pharmaceutical in a research note on Wednesday, September 16th. Royal Bank Of Canada dropped their price target on shares of BioMarin Pharmaceutical from $66.00 to $62.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 7th. Piper Sandler increased their target price on BioMarin Pharmaceutical from $88.00 to $90.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 1st. Weiss Ratings cut shares of BioMarin Pharmaceutical from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, September 18th. Finally, Citigroup lifted their price target on shares of BioMarin Pharmaceutical from $75.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.38.

About BioMarin Pharmaceutical

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.