Equities analysts predict that BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) will report $346.24 million in sales for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have made estimates for BioMarin Pharmaceutical’s earnings, with estimates ranging from $330.61 million to $357.61 million. BioMarin Pharmaceutical reported sales of $300.09 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 15.4%. The company is expected to issue its next earnings report after the market closes on Thursday, February 22nd.
According to Zacks, analysts expect that BioMarin Pharmaceutical will report full-year sales of $346.24 million for the current year, with estimates ranging from $1.29 billion to $1.31 billion. For the next financial year, analysts forecast that the company will report sales of $1.48 billion per share, with estimates ranging from $1.45 billion to $1.53 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for BioMarin Pharmaceutical.
Several research firms recently weighed in on BMRN. ValuEngine downgraded shares of BioMarin Pharmaceutical from a “hold” rating to a “sell” rating in a report on Wednesday, February 7th. Zacks Investment Research downgraded shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Wednesday, January 17th. Wedbush upgraded shares of BioMarin Pharmaceutical from a “neutral” rating to an “outperform” rating and set a $110.00 price target for the company in a research note on Thursday, December 14th. Credit Suisse Group restated an “outperform” rating and issued a $113.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, January 18th. Finally, JPMorgan Chase & Co. dropped their price target on shares of BioMarin Pharmaceutical from $131.00 to $129.00 and set an “outperform” rating for the company in a research note on Wednesday, January 24th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $111.60.
Several institutional investors have recently added to or reduced their stakes in BMRN. Dimensional Fund Advisors LP lifted its position in shares of BioMarin Pharmaceutical by 1.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 190,569 shares of the biotechnology company’s stock worth $17,307,000 after purchasing an additional 2,422 shares during the last quarter. Janus Henderson Group PLC lifted its position in BioMarin Pharmaceutical by 49.4% in the second quarter. Janus Henderson Group PLC now owns 33,186 shares of the biotechnology company’s stock valued at $3,014,000 after acquiring an additional 10,976 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in BioMarin Pharmaceutical by 13.6% in the second quarter. The Manufacturers Life Insurance Company now owns 6,798 shares of the biotechnology company’s stock valued at $617,000 after acquiring an additional 812 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position in BioMarin Pharmaceutical by 1.8% in the second quarter. Ameritas Investment Partners Inc. now owns 3,126 shares of the biotechnology company’s stock valued at $284,000 after acquiring an additional 54 shares during the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in BioMarin Pharmaceutical in the second quarter valued at $223,000. 98.77% of the stock is owned by institutional investors and hedge funds.
Shares of BioMarin Pharmaceutical (BMRN) opened at $83.85 on Wednesday. BioMarin Pharmaceutical has a 1-year low of $78.50 and a 1-year high of $100.51. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.91 and a quick ratio of 3.81.
BioMarin Pharmaceutical Company Profile
BioMarin Pharmaceutical Inc is a biotechnology company. The Company develops and commercializes pharmaceuticals for various diseases and medical conditions. As of December 31, 2016, the Company’s therapy portfolio consisted of five products, and multiple clinical and pre-clinical product candidates. Its commercial products include Aldurazyme (laronidase) for Mucopolysaccharidosis I (MPS I), Firdapse (amifampridine phosphate) for Lambert Eaton Myasthenic Syndrome (LEMS), Kuvan (sapropterin dihydrochloride) for phenylketonuria (PKU), Naglazyme (galsulfase) for Mucopolysaccharidosis VI (MPS VI) and Vimizim (elosulfase alpha) for Mucopolysaccharidosis IV Type A (MPS IV A).
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