What is Leerink Partnrs’ Estimate for BMRN FY2024 Earnings?

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) – Stock analysts at Leerink Partnrs reduced their FY2024 earnings per share (EPS) estimates for shares of BioMarin Pharmaceutical in a research report issued on Wednesday, October 30th. Leerink Partnrs analyst J. Schwartz now forecasts that the biotechnology company will post earnings of $2.60 per share for the year, down from their previous forecast of $2.66. The consensus estimate for BioMarin Pharmaceutical’s current full-year earnings is $2.39 per share. Leerink Partnrs also issued estimates for BioMarin Pharmaceutical’s Q4 2024 earnings at $0.63 EPS, Q1 2025 earnings at $0.48 EPS, Q2 2025 earnings at $0.81 EPS, Q3 2025 earnings at $0.82 EPS, Q4 2025 earnings at $0.82 EPS, FY2025 earnings at $2.93 EPS and FY2026 earnings at $5.20 EPS.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.23). BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The business had revenue of $746.00 million during the quarter, compared to analysts’ expectations of $703.37 million. During the same quarter in the prior year, the firm earned $0.26 EPS. BioMarin Pharmaceutical’s revenue for the quarter was up 28.4% on a year-over-year basis.

BMRN has been the topic of several other research reports. Cantor Fitzgerald decreased their price target on BioMarin Pharmaceutical from $110.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Raymond James reaffirmed an “outperform” rating and issued a $79.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, October 10th. Piper Sandler lifted their price target on shares of BioMarin Pharmaceutical from $107.00 to $122.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. Scotiabank reduced their price target on shares of BioMarin Pharmaceutical from $95.00 to $78.00 and set a “sector perform” rating on the stock in a research note on Tuesday, September 17th. Finally, Truist Financial lowered their price objective on shares of BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Seven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $94.16.

BioMarin Pharmaceutical Price Performance

NASDAQ:BMRN opened at $66.01 on Monday. The firm has a market cap of $12.53 billion, a P/E ratio of 39.53, a price-to-earnings-growth ratio of 0.67 and a beta of 0.31. The stock has a 50 day moving average of $74.65 and a two-hundred day moving average of $80.36. BioMarin Pharmaceutical has a 12 month low of $65.35 and a 12 month high of $99.56. The company has a current ratio of 4.27, a quick ratio of 1.95 and a debt-to-equity ratio of 0.11.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BMRN. Innealta Capital LLC purchased a new position in BioMarin Pharmaceutical during the second quarter valued at approximately $25,000. nVerses Capital LLC purchased a new position in BioMarin Pharmaceutical during the third quarter valued at approximately $28,000. BOKF NA purchased a new position in BioMarin Pharmaceutical during the second quarter valued at approximately $31,000. Quent Capital LLC grew its position in BioMarin Pharmaceutical by 58.9% during the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 145 shares in the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new stake in BioMarin Pharmaceutical in the second quarter valued at approximately $47,000. 98.71% of the stock is owned by hedge funds and other institutional investors.

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.