BioMarin Pharmaceutical (NASDAQ:BMRN) Releases Quarterly Earnings Results, Misses Expectations By $0.23 EPS

BioMarin Pharmaceutical (NASDAQ:BMRN) announced its quarterly earnings data on Tuesday. The biotechnology company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.23), Briefing.com reports. BioMarin Pharmaceutical had a return on equity of 6.91% and a net margin of 9.91%. The firm had revenue of $746.00 million for the quarter, compared to analysts’ expectations of $703.37 million. During the same quarter in the prior year, the business posted $0.26 earnings per share. BioMarin Pharmaceutical’s revenue was up 28.4% on a year-over-year basis.

BioMarin Pharmaceutical Price Performance

NASDAQ BMRN traded down $2.06 on Wednesday, hitting $67.85. 1,098,086 shares of the company’s stock were exchanged, compared to its average volume of 1,840,861. The stock has a 50-day moving average of $76.60 and a 200-day moving average of $81.04. 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 52 week low of $65.78 and a 52 week high of $99.56. The stock has a market cap of $12.88 billion, a price-to-earnings ratio of 63.82, a P/E/G ratio of 0.81 and a beta of 0.31.

Wall Street Analysts Forecast Growth

BMRN has been the topic of several analyst reports. Stifel Nicolaus lowered their target price on shares of BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $93.00 price target on shares of BioMarin Pharmaceutical in a research report on Friday, September 13th. StockNews.com raised BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Wells Fargo & Company lowered their price target on BioMarin Pharmaceutical from $115.00 to $90.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 17th. Finally, Sanford C. Bernstein reduced their target price on shares of BioMarin Pharmaceutical from $116.00 to $90.00 and set an “outperform” rating for the company in a research note on Tuesday, September 17th. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, BioMarin Pharmaceutical has a consensus rating of “Moderate Buy” and an average price target of $96.05.

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.