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

BioMarin Pharmaceutical (NASDAQ:BMRN) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 3.100-3.250 for the period, compared to the consensus earnings per share 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.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BMRN. Bank of America decreased their target price 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. Royal Bank of Canada lowered their target price on shares of BioMarin Pharmaceutical from $100.00 to $85.00 and set a sector perform rating for the company in a research note on Tuesday, September 17th. Stifel Nicolaus reduced their price target 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. Barclays lowered their price objective on shares of BioMarin Pharmaceutical from $111.00 to $110.00 and set an overweight rating for the company in a research report on Tuesday, August 6th. Finally, Sanford C. Bernstein decreased their target price on 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 equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical has an average rating of Moderate Buy and a consensus target price of $98.84.

BioMarin Pharmaceutical Trading Down 0.7 %

Shares of NASDAQ:BMRN opened at $69.02 on Thursday. The company has a 50 day moving average of $84.93 and a 200-day moving average of $84.02. 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 firm has a market cap of $13.11 billion, a P/E ratio of 64.51, a P/E/G ratio of 0.80 and a beta of 0.32. BioMarin Pharmaceutical has a twelve month low of $67.75 and a twelve month high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Monday, August 5th. The biotechnology company reported $0.77 earnings per share 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 firm had revenue of $712.03 million during the quarter, compared to the consensus estimate of $660.51 million. As a group, analysts anticipate that BioMarin Pharmaceutical will post 2.39 earnings per share for the current fiscal year.

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.