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

BioMarin Pharmaceutical (NASDAQ:BMRN) updated its FY 2024 earnings guidance on Tuesday. 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.

BioMarin Pharmaceutical Price Performance

BMRN opened at $69.48 on Wednesday. The company has a market capitalization of $13.19 billion, a P/E ratio of 64.93, a PEG ratio of 1.03 and a beta of 0.32. The company has a 50-day moving average of $84.93 and a 200-day moving average of $84.02. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.95 and a current ratio of 3.05. BioMarin Pharmaceutical has a 1-year low of $67.75 and a 1-year high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Monday, August 5th. The biotechnology company reported $0.77 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $660.51 million. Equities analysts expect that BioMarin Pharmaceutical will post 2.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BMRN has been the topic of several research analyst reports. Bank of America reduced their price objective on BioMarin Pharmaceutical from $130.00 to $115.00 and set a buy rating on the stock in a research note on Tuesday, September 17th. JPMorgan Chase & Co. lifted their price target on shares of BioMarin Pharmaceutical from $111.00 to $120.00 and gave the company an overweight rating in a report on Thursday, September 5th. Barclays dropped their price objective on shares of BioMarin Pharmaceutical from $111.00 to $110.00 and set an overweight rating on the stock in a research note on Tuesday, August 6th. StockNews.com upgraded BioMarin Pharmaceutical from a hold rating to a buy rating in a research note on Thursday, August 8th. Finally, Canaccord Genuity Group reiterated a hold rating and set a $93.00 price target on shares of BioMarin Pharmaceutical in a research report on Friday, September 13th. Eight equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $98.84.

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.