BioMarin Pharmaceutical (NASDAQ:BMRN) Issues Quarterly Earnings Results

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

BioMarin Pharmaceutical Trading Up 1.2 %

Shares of BMRN stock traded up $0.75 on Wednesday, reaching $65.61. 1,532,961 shares of the stock were exchanged, compared to its average volume of 1,498,847. The stock has a market cap of $12.50 billion, a P/E ratio of 39.29, a price-to-earnings-growth ratio of 0.57 and a beta of 0.28. 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 firm has a 50 day moving average of $64.79 and a two-hundred day moving average of $71.10. BioMarin Pharmaceutical has a 1-year low of $60.63 and a 1-year high of $94.85.

Analysts Set New Price Targets

BMRN has been the topic of a number of analyst reports. Canaccord Genuity Group lowered their target price on BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th. UBS Group increased their target price on BioMarin Pharmaceutical from $104.00 to $106.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, December 12th. JPMorgan Chase & Co. lowered their target price on BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Finally, StockNews.com upgraded BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and an average target price 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.