FY2024 EPS Estimates for BMRN Increased by Cantor Fitzgerald

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) – Cantor Fitzgerald increased their FY2024 EPS estimates for BioMarin Pharmaceutical in a research note issued on Wednesday, October 30th. Cantor Fitzgerald analyst O. Brayer now forecasts that the biotechnology company will post earnings per share of $2.43 for the year, up from their prior estimate of $2.36. Cantor Fitzgerald currently has a “Overweight” rating and a $90.00 price target on the stock. The consensus estimate for BioMarin Pharmaceutical’s current full-year earnings is $2.39 per share.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). BioMarin Pharmaceutical had a net margin of 9.91% and a return on equity of 6.91%. The business had revenue of $746.00 million during the quarter, compared to analysts’ expectations of $703.37 million. During the same period last year, the business posted $0.26 earnings per share. The company’s revenue for the quarter was up 28.4% compared to the same quarter last year.

A number of other analysts also recently issued reports on the company. Stifel Nicolaus lowered their price target on BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Bank of America lowered their price target on BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Canaccord Genuity Group lowered their price target on BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating for the company in a research report on Wednesday. William Blair downgraded BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Finally, Barclays lowered their price target on BioMarin Pharmaceutical from $110.00 to $86.00 and set an “overweight” rating for the company in a research report on Friday, October 4th. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, BioMarin Pharmaceutical has a consensus rating of “Moderate Buy” and an average target price of $93.67.

BioMarin Pharmaceutical Trading Down 1.2 %

BMRN stock opened at $65.89 on Thursday. The firm has a market cap of $12.51 billion, a PE ratio of 61.58, a price-to-earnings-growth ratio of 0.81 and a beta of 0.31. The firm has a fifty day moving average price of $75.60 and a 200 day moving average price of $80.84. BioMarin Pharmaceutical has a fifty-two week low of $65.35 and a fifty-two week high of $99.56. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.95 and a current ratio of 3.05.

Institutional Trading of BioMarin Pharmaceutical

Several institutional investors and hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. grew its stake in BioMarin Pharmaceutical by 1,858.6% in the second quarter. Principal Financial Group Inc. now owns 649,460 shares of the biotechnology company’s stock valued at $53,470,000 after purchasing an additional 616,301 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in BioMarin Pharmaceutical by 11,107.4% in the second quarter. Assenagon Asset Management S.A. now owns 352,474 shares of the biotechnology company’s stock valued at $29,019,000 after purchasing an additional 349,329 shares during the last quarter. Rhumbline Advisers grew its stake in BioMarin Pharmaceutical by 122.1% in the second quarter. Rhumbline Advisers now owns 551,553 shares of the biotechnology company’s stock valued at $45,409,000 after purchasing an additional 303,207 shares during the last quarter. Swedbank AB purchased a new position in BioMarin Pharmaceutical in the first quarter valued at about $25,864,000. Finally, Dimensional Fund Advisors LP grew its stake in BioMarin Pharmaceutical by 38.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,034,457 shares of the biotechnology company’s stock valued at $85,178,000 after purchasing an additional 289,953 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors.

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.