BioMarin Pharmaceutical Inc. Forecasted to Earn Q1 2018 Earnings of ($0.17) Per Share (BMRN)

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) – Analysts at SunTrust Banks issued their Q1 2018 earnings per share (EPS) estimates for BioMarin Pharmaceutical in a research report issued to clients and investors on Monday. SunTrust Banks analyst E. Nash forecasts that the biotechnology company will post earnings of ($0.17) per share for the quarter. SunTrust Banks has a “Buy” rating and a $115.00 price objective on the stock. SunTrust Banks also issued estimates for BioMarin Pharmaceutical’s Q2 2018 earnings at ($0.12) EPS and Q4 2018 earnings at ($0.06) EPS.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Thursday, October 26th. The biotechnology company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.06. The business had revenue of $334.18 million during the quarter, compared to analysts’ expectations of $347.38 million. BioMarin Pharmaceutical had a negative net margin of 12.45% and a negative return on equity of 4.61%. The business’s quarterly revenue was up 19.4% on a year-over-year basis. During the same period last year, the company posted $0.02 earnings per share. ILLEGAL ACTIVITY NOTICE: This piece was first reported by Community Financial News and is the property of of Community Financial News. If you are viewing this piece on another publication, it was stolen and reposted in violation of U.S. and international copyright legislation. The correct version of this piece can be viewed at https://www.com-unik.info/2017/11/01/biomarin-pharmaceutical-inc-forecasted-to-earn-q1-2018-earnings-of-0-17-per-share-bmrn.html.

Several other brokerages have also commented on BMRN. Sanford C. Bernstein initiated coverage on shares of BioMarin Pharmaceutical in a report on Thursday, July 27th. They issued a “market perform” rating and a $89.00 price objective for the company. Evercore ISI initiated coverage on shares of BioMarin Pharmaceutical in a report on Wednesday, August 16th. They issued an “outperform” rating and a $100.00 price objective for the company. Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $129.00 price objective on shares of BioMarin Pharmaceutical in a report on Friday, October 6th. Royal Bank Of Canada initiated coverage on shares of BioMarin Pharmaceutical in a research report on Thursday, September 14th. They issued a “sector perform” rating and a $93.00 target price on the stock. Finally, Barclays PLC reaffirmed an “equal weight” rating and issued a $100.00 target price (down from $105.00) on shares of BioMarin Pharmaceutical in a research report on Saturday, July 22nd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $111.55.

BioMarin Pharmaceutical (NASDAQ BMRN) traded down 1.57% during midday trading on Tuesday, reaching $80.80. 1,209,489 shares of the company’s stock were exchanged. The company’s market cap is $14.16 billion. BioMarin Pharmaceutical has a 12-month low of $78.42 and a 12-month high of $100.51. The firm has a 50-day moving average price of $91.20 and a 200 day moving average price of $89.88.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in BioMarin Pharmaceutical by 4.7% during the 2nd quarter. Vanguard Group Inc. now owns 14,345,027 shares of the biotechnology company’s stock valued at $1,302,816,000 after buying an additional 642,623 shares in the last quarter. Jennison Associates LLC grew its holdings in BioMarin Pharmaceutical by 33.8% during the 2nd quarter. Jennison Associates LLC now owns 13,242,773 shares of the biotechnology company’s stock valued at $1,202,709,000 after buying an additional 3,348,168 shares in the last quarter. TIAA CREF Investment Management LLC grew its holdings in BioMarin Pharmaceutical by 63.7% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 2,251,011 shares of the biotechnology company’s stock valued at $204,437,000 after buying an additional 875,686 shares in the last quarter. Manning & Napier Advisors LLC grew its holdings in BioMarin Pharmaceutical by 25.2% during the 2nd quarter. Manning & Napier Advisors LLC now owns 2,118,486 shares of the biotechnology company’s stock valued at $192,399,000 after buying an additional 426,016 shares in the last quarter. Finally, Pictet Asset Management Ltd. grew its holdings in BioMarin Pharmaceutical by 17.0% during the 3rd quarter. Pictet Asset Management Ltd. now owns 1,134,622 shares of the biotechnology company’s stock valued at $105,599,000 after buying an additional 164,788 shares in the last quarter. 97.58% of the stock is owned by institutional investors and hedge funds.

In other BioMarin Pharmaceutical news, EVP Robert Baffi sold 18,415 shares of the stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $92.43, for a total transaction of $1,702,098.45. Following the completion of the sale, the executive vice president now directly owns 129,083 shares of the company’s stock, valued at approximately $11,931,141.69. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jeffrey Robert Ajer sold 3,521 shares of the stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $95.00, for a total transaction of $334,495.00. Following the sale, the executive vice president now directly owns 49,299 shares of the company’s stock, valued at $4,683,405. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,686 shares of company stock worth $3,736,318. 1.85% of the stock is owned by company insiders.

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).

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

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