Wall Street brokerages expect BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) to report $455.10 million in sales for the current quarter, according to Zacks. Nine analysts have provided estimates for BioMarin Pharmaceutical’s earnings, with the lowest sales estimate coming in at $432.69 million and the highest estimate coming in at $482.30 million. BioMarin Pharmaceutical posted sales of $391.71 million during the same quarter last year, which suggests a positive year over year growth rate of 16.2%. The business is expected to report its next quarterly earnings report on Thursday, October 24th.
On average, analysts expect that BioMarin Pharmaceutical will report full-year sales of $1.70 billion for the current year, with estimates ranging from $1.68 billion to $1.72 billion. For the next fiscal year, analysts expect that the firm will report sales of $1.97 billion, with estimates ranging from $1.82 billion to $2.10 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover BioMarin Pharmaceutical.
BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Thursday, August 1st. The biotechnology company reported ($0.21) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.16). BioMarin Pharmaceutical had a negative net margin of 7.19% and a negative return on equity of 3.12%. The company had revenue of $388.00 million during the quarter, compared to analyst estimates of $415.03 million. During the same period in the previous year, the company earned ($0.09) EPS. The company’s quarterly revenue was up 4.0% compared to the same quarter last year.
NASDAQ BMRN traded up $4.77 during trading hours on Thursday, reaching $76.50. The company had a trading volume of 1,825,500 shares, compared to its average volume of 1,207,601. The stock has a 50-day moving average of $80.43 and a 200 day moving average of $86.40. BioMarin Pharmaceutical has a 1-year low of $71.53 and a 1-year high of $106.74. The company has a current ratio of 4.11, a quick ratio of 2.79 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $12.87 billion, a P/E ratio of -231.82 and a beta of 1.35.
In other news, Director V Bryan Lawlis sold 3,750 shares of the stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $81.08, for a total transaction of $304,050.00. Following the sale, the director now owns 27,340 shares of the company’s stock, valued at $2,216,727.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. BB&T Securities LLC raised its holdings in BioMarin Pharmaceutical by 4.0% in the second quarter. BB&T Securities LLC now owns 3,447 shares of the biotechnology company’s stock valued at $295,000 after acquiring an additional 132 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in BioMarin Pharmaceutical by 0.5% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 27,142 shares of the biotechnology company’s stock valued at $2,411,000 after acquiring an additional 144 shares in the last quarter. Berman Capital Advisors LLC raised its holdings in BioMarin Pharmaceutical by 56.8% in the first quarter. Berman Capital Advisors LLC now owns 417 shares of the biotechnology company’s stock valued at $36,000 after acquiring an additional 151 shares in the last quarter. Avestar Capital LLC raised its holdings in BioMarin Pharmaceutical by 36.9% in the second quarter. Avestar Capital LLC now owns 750 shares of the biotechnology company’s stock valued at $44,000 after acquiring an additional 202 shares in the last quarter. Finally, First Mercantile Trust Co. raised its holdings in BioMarin Pharmaceutical by 2.6% in the second quarter. First Mercantile Trust Co. now owns 8,116 shares of the biotechnology company’s stock valued at $695,000 after acquiring an additional 206 shares in the last quarter. 96.86% of the stock is currently owned by hedge funds and other institutional investors.
About BioMarin Pharmaceutical
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.
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