What is William Blair’s Forecast for BMRN FY2024 Earnings?

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) – Stock analysts at William Blair upped their FY2024 earnings per share (EPS) estimates for BioMarin Pharmaceutical in a report released on Wednesday, October 30th. William Blair analyst S. Corwin now expects that the biotechnology company will post earnings of $2.55 per share for the year, up from their prior forecast of $2.33. William Blair currently has a “Market Perform” rating on the stock. The consensus estimate for BioMarin Pharmaceutical’s current full-year earnings is $2.47 per share. William Blair also issued estimates for BioMarin Pharmaceutical’s Q4 2024 earnings at $0.58 EPS, Q1 2025 earnings at $0.68 EPS, Q2 2025 earnings at $0.73 EPS, Q3 2025 earnings at $0.83 EPS, Q4 2025 earnings at $0.67 EPS and FY2025 earnings at $2.90 EPS.

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

A number of other research firms also recently weighed in on BMRN. UBS Group increased their price target on shares of BioMarin Pharmaceutical from $104.00 to $106.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Stifel Nicolaus cut their target price on BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Citigroup lowered their price target on BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Robert W. Baird lowered their price target on BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Finally, Evercore ISI lowered their price target on BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and an average target price of $94.16.

BioMarin Pharmaceutical Price Performance

BMRN opened at $66.04 on Monday. BioMarin Pharmaceutical has a 1 year low of $65.35 and a 1 year high of $99.56. The company’s 50 day simple moving average is $74.16 and its 200 day simple moving average is $80.20. The stock has a market capitalization of $12.59 billion, a PE ratio of 39.54, a P/E/G ratio of 0.66 and a beta of 0.31. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 4.27.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Envestnet Portfolio Solutions Inc. lifted its stake in shares of BioMarin Pharmaceutical by 1.2% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 10,668 shares of the biotechnology company’s stock worth $932,000 after acquiring an additional 130 shares in the last quarter. Quent Capital LLC lifted its stake in shares of BioMarin Pharmaceutical by 58.9% in the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 145 shares in the last quarter. Voisard Asset Management Group Inc. lifted its stake in shares of BioMarin Pharmaceutical by 17.8% in the third quarter. Voisard Asset Management Group Inc. now owns 1,355 shares of the biotechnology company’s stock worth $95,000 after acquiring an additional 205 shares in the last quarter. Grandfield & Dodd LLC lifted its stake in shares of BioMarin Pharmaceutical by 1.6% in the first quarter. Grandfield & Dodd LLC now owns 16,127 shares of the biotechnology company’s stock worth $1,409,000 after acquiring an additional 255 shares in the last quarter. Finally, AIA Group Ltd lifted its stake in shares of BioMarin Pharmaceutical by 7.0% in the first quarter. AIA Group Ltd now owns 4,076 shares of the biotechnology company’s stock worth $356,000 after acquiring an additional 266 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

About BioMarin Pharmaceutical

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.