BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Expected to Earn FY2022 Earnings of $1.10 Per Share

BioMarin Pharmaceutical Inc. (NASDAQ:BMRNGet Rating) – Cantor Fitzgerald issued their FY2022 earnings estimates for shares of BioMarin Pharmaceutical in a report released on Thursday, August 4th. Cantor Fitzgerald analyst O. Brayer expects that the biotechnology company will post earnings of $1.10 per share for the year. Cantor Fitzgerald currently has a “Overweight” rating and a $110.00 price target on the stock. The consensus estimate for BioMarin Pharmaceutical’s current full-year earnings is $0.95 per share.

BioMarin Pharmaceutical (NASDAQ:BMRNGet Rating) last announced its earnings results on Wednesday, August 3rd. The biotechnology company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.11 by $0.04. BioMarin Pharmaceutical had a net margin of 2.83% and a return on equity of 1.80%. During the same quarter in the prior year, the business posted $0.23 earnings per share.

Several other brokerages have also recently commented on BMRN. Stifel Nicolaus restated a “buy” rating and issued a $96.00 target price on shares of BioMarin Pharmaceutical in a research report on Tuesday, May 3rd. Barclays upped their price objective on shares of BioMarin Pharmaceutical from $112.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday. Credit Suisse Group upped their price objective on shares of BioMarin Pharmaceutical from $105.00 to $106.00 and gave the stock an “outperform” rating in a research report on Monday, June 6th. Wedbush reiterated a “hold” rating and set a $70.00 price objective on shares of BioMarin Pharmaceutical in a research report on Friday, June 24th. Finally, SVB Leerink boosted their target price on shares of BioMarin Pharmaceutical from $115.00 to $122.00 and gave the stock an “outperform” rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.40.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ:BMRN opened at $95.82 on Friday. The firm has a 50 day moving average of $82.81 and a 200-day moving average of $82.21. The stock has a market capitalization of $17.73 billion, a PE ratio of 368.55, a PEG ratio of 1.86 and a beta of 0.33. The company has a current ratio of 4.88, a quick ratio of 3.28 and a debt-to-equity ratio of 0.25. BioMarin Pharmaceutical has a 12 month low of $70.73 and a 12 month high of $96.50.

Insider Transactions at BioMarin Pharmaceutical

In related news, EVP Jeffrey Robert Ajer sold 1,308 shares of BioMarin Pharmaceutical stock in a transaction on Thursday, May 26th. The shares were sold at an average price of $78.94, for a total value of $103,253.52. Following the sale, the executive vice president now owns 54,109 shares in the company, valued at $4,271,364.46. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Jeffrey Robert Ajer sold 1,308 shares of the business’s stock in a transaction that occurred on Thursday, May 26th. The stock was sold at an average price of $78.94, for a total transaction of $103,253.52. Following the completion of the transaction, the executive vice president now directly owns 54,109 shares in the company, valued at approximately $4,271,364.46. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Brian Mueller sold 7,337 shares of the company’s stock in a transaction that occurred on Friday, July 8th. The stock was sold at an average price of $89.50, for a total value of $656,661.50. Following the sale, the chief financial officer now directly owns 30,726 shares in the company, valued at $2,749,977. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,043 shares of company stock worth $1,425,735. Insiders own 1.75% of the company’s stock.

Hedge Funds Weigh In On BioMarin Pharmaceutical

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new stake in BioMarin Pharmaceutical in the fourth quarter worth about $1,811,000. Vestmark Advisory Solutions Inc. raised its stake in shares of BioMarin Pharmaceutical by 3.9% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 4,352 shares of the biotechnology company’s stock worth $384,000 after purchasing an additional 165 shares during the last quarter. Yousif Capital Management LLC purchased a new position in BioMarin Pharmaceutical during the fourth quarter valued at approximately $228,000. Dupont Capital Management Corp acquired a new stake in BioMarin Pharmaceutical in the fourth quarter valued at approximately $113,000. Finally, Centaurus Financial Inc. acquired a new stake in shares of BioMarin Pharmaceutical in the fourth quarter worth approximately $106,000. Institutional investors own 95.45% of the company’s stock.

About BioMarin Pharmaceutical

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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.

Further Reading

Earnings History and Estimates for BioMarin Pharmaceutical (NASDAQ:BMRN)

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