BioMarin Pharmaceutical (NASDAQ:BMRN) Releases Quarterly Earnings Results, Beats Estimates By $0.18 EPS

BioMarin Pharmaceutical (NASDAQ:BMRN) posted its quarterly earnings results on Wednesday. The biotechnology company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.54 by $0.18, Zacks reports. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%.

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock traded up $0.75 during mid-day trading on Wednesday, hitting $65.61. The company’s stock had a trading volume of 1,735,669 shares, compared to its average volume of 1,500,464. The company has a quick ratio of 2.62, a current ratio of 4.27 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $12.50 billion, a P/E ratio of 39.29, a P/E/G ratio of 0.57 and a beta of 0.28. The stock’s fifty day moving average price is $64.79 and its two-hundred day moving average price is $71.10. BioMarin Pharmaceutical has a twelve month low of $60.63 and a twelve month high of $94.85.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Wedbush upgraded BioMarin Pharmaceutical to a “strong-buy” rating in a research note on Monday, November 4th. Cantor Fitzgerald restated an “overweight” rating and set a $90.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, December 12th. Wolfe Research assumed coverage on BioMarin Pharmaceutical in a research report on Friday, November 15th. They issued an “outperform” rating and a $95.00 target price on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $80.00 target price on shares of BioMarin Pharmaceutical in a research note on Wednesday, October 30th. Finally, Canaccord Genuity Group lowered their price target on shares of BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating for the company in a research report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and an average price target of $94.20.

About BioMarin Pharmaceutical

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.