Q3 2024 EPS Estimates for BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Boosted by Analyst

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) – Research analysts at Leerink Partnrs raised their Q3 2024 earnings per share estimates for shares of BioMarin Pharmaceutical in a research note issued to investors on Wednesday, September 4th. Leerink Partnrs analyst J. Schwartz now anticipates that the biotechnology company will post earnings per share of $0.71 for the quarter, up from their previous estimate of $0.50. The consensus estimate for BioMarin Pharmaceutical’s current full-year earnings is $2.40 per share. Leerink Partnrs also issued estimates for BioMarin Pharmaceutical’s Q4 2024 earnings at $0.71 EPS, FY2024 earnings at $2.66 EPS, Q1 2025 earnings at $0.49 EPS, Q2 2025 earnings at $0.83 EPS, Q3 2025 earnings at $0.84 EPS, Q4 2025 earnings at $0.84 EPS, FY2025 earnings at $3.01 EPS and FY2026 earnings at $5.19 EPS.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Monday, August 5th. The biotechnology company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.39. BioMarin Pharmaceutical had a net margin of 9.91% and a return on equity of 6.91%. The company had revenue of $712.03 million during the quarter, compared to analysts’ expectations of $660.51 million.

BMRN has been the subject of several other reports. Canaccord Genuity Group reissued a “hold” rating and set a $89.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, July 25th. Truist Financial reduced their target price on BioMarin Pharmaceutical from $140.00 to $118.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Wells Fargo & Company boosted their price target on BioMarin Pharmaceutical from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Cantor Fitzgerald reiterated an “overweight” rating and set a $110.00 price objective on shares of BioMarin Pharmaceutical in a research note on Monday. Finally, Evercore ISI boosted their target price on shares of BioMarin Pharmaceutical from $113.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, August 6th. Eight research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.10.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ:BMRN opened at $84.33 on Monday. BioMarin Pharmaceutical has a 12-month low of $73.68 and a 12-month high of $99.56. The company’s 50 day moving average price is $86.57 and its two-hundred day moving average price is $84.97. The firm has a market cap of $16.01 billion, a PE ratio of 78.81, a PEG ratio of 1.02 and a beta of 0.31. The company has a quick ratio of 1.95, a current ratio of 3.05 and a debt-to-equity ratio of 0.11.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Several hedge funds have recently added to or reduced their stakes in BMRN. AMI Asset Management Corp grew its position in shares of BioMarin Pharmaceutical by 51.9% in the 1st quarter. AMI Asset Management Corp now owns 346,189 shares of the biotechnology company’s stock valued at $30,236,000 after buying an additional 118,230 shares during the last quarter. ING Groep NV bought a new stake in BioMarin Pharmaceutical in the fourth quarter valued at approximately $20,248,000. Fisher Asset Management LLC acquired a new stake in BioMarin Pharmaceutical during the 4th quarter valued at approximately $1,301,000. APG Asset Management US Inc. bought a new position in BioMarin Pharmaceutical during the 4th quarter worth approximately $3,462,000. Finally, Bridgewater Associates LP lifted its position in shares of BioMarin Pharmaceutical by 18.3% in the 4th quarter. Bridgewater Associates LP now owns 190,970 shares of the biotechnology company’s stock worth $18,413,000 after purchasing an additional 29,576 shares during the period. 98.71% of the stock is currently owned by institutional investors and hedge funds.

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.