BioMarin Pharmaceutical (NASDAQ:BMRN) Releases FY 2024 Earnings Guidance

BioMarin Pharmaceutical (NASDAQ:BMRN) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 3.100-3.250 for the period, compared to the consensus EPS estimate of 2.040. The company issued revenue guidance of $2.8 billion-$2.8 billion, compared to the consensus revenue estimate of $2.8 billion.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BMRN. Scotiabank reduced their target price on BioMarin Pharmaceutical from $95.00 to $78.00 and set a sector perform rating on the stock in a report on Tuesday, September 17th. StockNews.com upgraded shares of BioMarin Pharmaceutical from a hold rating to a buy rating in a research note on Thursday, August 8th. Piper Sandler boosted their price objective on BioMarin Pharmaceutical from $107.00 to $122.00 and gave the stock an overweight rating in a research report on Thursday, September 5th. Stifel Nicolaus decreased their price target on BioMarin Pharmaceutical from $115.00 to $87.00 and set a buy rating for the company in a report on Tuesday, September 17th. Finally, JPMorgan Chase & Co. raised their target price on BioMarin Pharmaceutical from $111.00 to $120.00 and gave the company an overweight rating in a research note on Thursday, September 5th. Eight investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, BioMarin Pharmaceutical presently has a consensus rating of Moderate Buy and an average price target of $98.84.

BioMarin Pharmaceutical Stock Down 2.2 %

BMRN opened at $69.13 on Tuesday. The company has a market cap of $13.13 billion, a P/E ratio of 64.61, a P/E/G ratio of 1.03 and a beta of 0.32. BioMarin Pharmaceutical has a 12 month low of $68.83 and a 12 month high of $99.56. The company has a current ratio of 3.05, a quick ratio of 1.95 and a debt-to-equity ratio of 0.11. The business’s 50-day moving average price is $85.26 and its 200-day moving average price is $84.14.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Monday, August 5th. The biotechnology company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.39. BioMarin Pharmaceutical had a return on equity of 6.91% and a net margin of 9.91%. The company had revenue of $712.03 million during the quarter, compared to analyst estimates of $660.51 million. On average, equities analysts expect that BioMarin Pharmaceutical will post 2.4 EPS for the current year.

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.