BioMarin Pharmaceutical Inc. Expected to Post Q3 2019 Earnings of $0.14 Per Share (NASDAQ:BMRN)

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) – Analysts at Piper Jaffray Companies increased their Q3 2019 earnings per share (EPS) estimates for shares of BioMarin Pharmaceutical in a research note issued to investors on Thursday, October 17th. Piper Jaffray Companies analyst C. Raymond now expects that the biotechnology company will earn $0.14 per share for the quarter, up from their previous forecast of $0.12. Piper Jaffray Companies has a “Buy” rating and a $120.00 price objective on the stock. Piper Jaffray Companies also issued estimates for BioMarin Pharmaceutical’s Q4 2019 earnings at $0.02 EPS.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Thursday, August 1st. The biotechnology company reported ($0.21) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.16). The business had revenue of $388.00 million for the quarter, compared to analyst estimates of $415.03 million. BioMarin Pharmaceutical had a negative return on equity of 3.12% and a negative net margin of 7.19%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.09) earnings per share.

Several other brokerages have also recently commented on BMRN. Bank of America assumed coverage on BioMarin Pharmaceutical in a research report on Wednesday, October 16th. They set a “buy” rating and a $90.00 price target for the company. Stifel Nicolaus set a $108.00 price target on BioMarin Pharmaceutical and gave the stock a “buy” rating in a research report on Friday, September 13th. Wedbush set a $128.00 price target on BioMarin Pharmaceutical and gave the stock a “buy” rating in a research report on Thursday, September 26th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $133.00 price target on shares of BioMarin Pharmaceutical in a research report on Monday, August 5th. Finally, BidaskClub cut BioMarin Pharmaceutical from a “sell” rating to a “strong sell” rating in a research report on Friday, September 27th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $112.42.

Shares of BMRN opened at $67.73 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.79 and a current ratio of 4.11. BioMarin Pharmaceutical has a one year low of $62.88 and a one year high of $103.11. The stock has a market capitalization of $12.41 billion, a price-to-earnings ratio of -205.24 and a beta of 1.31. The stock has a 50 day moving average price of $70.14 and a 200 day moving average price of $79.59.

Large investors have recently modified their holdings of the business. Doyle Wealth Management purchased a new stake in BioMarin Pharmaceutical in the 2nd quarter valued at $26,000. North Star Investment Management Corp. purchased a new stake in BioMarin Pharmaceutical in the 3rd quarter valued at $25,000. Meeder Asset Management Inc. grew its holdings in BioMarin Pharmaceutical by 73.6% in the 3rd quarter. Meeder Asset Management Inc. now owns 408 shares of the biotechnology company’s stock valued at $27,000 after buying an additional 173 shares in the last quarter. Avestar Capital LLC grew its holdings in BioMarin Pharmaceutical by 36.9% in the 2nd quarter. Avestar Capital LLC now owns 750 shares of the biotechnology company’s stock valued at $44,000 after buying an additional 202 shares in the last quarter. Finally, Ossiam purchased a new stake in BioMarin Pharmaceutical in the 2nd quarter valued at $67,000. Institutional investors own 97.94% of the company’s stock.

In other BioMarin Pharmaceutical news, Director V Bryan Lawlis sold 3,750 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $74.47, for a total value of $279,262.50. Following the completion of the sale, the director now directly owns 27,340 shares in the company, valued at approximately $2,036,009.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.97% of the stock is owned by corporate insiders.

BioMarin Pharmaceutical Company Profile

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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Earnings History and Estimates for BioMarin Pharmaceutical (NASDAQ:BMRN)

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