BioMarin Pharmaceutical Inc. to Post Q3 2018 Earnings of ($0.10) Per Share, Jefferies Group Forecasts (BMRN)

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) – Equities researchers at Jefferies Group issued their Q3 2018 EPS estimates for shares of BioMarin Pharmaceutical in a research report issued on Thursday. Jefferies Group analyst E. Yang expects that the biotechnology company will post earnings of ($0.10) per share for the quarter. Jefferies Group currently has a “Buy” rating and a $116.00 target price on the stock. Jefferies Group also issued estimates for BioMarin Pharmaceutical’s FY2019 earnings at $0.36 EPS, FY2020 earnings at $2.70 EPS and FY2021 earnings at $4.12 EPS.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Thursday, October 26th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.06. BioMarin Pharmaceutical had a negative net margin of 12.45% and a negative return on equity of 4.61%. The firm had revenue of $334.18 million for the quarter, compared to analyst estimates of $347.38 million. During the same quarter in the prior year, the business posted $0.02 EPS. The business’s revenue was up 19.4% compared to the same quarter last year. ILLEGAL ACTIVITY NOTICE: This piece of content was originally reported by Community Financial News and is the property of of Community Financial News. If you are reading this piece of content on another domain, it was stolen and republished in violation of international trademark and copyright laws. The original version of this piece of content can be accessed at https://www.com-unik.info/2017/11/01/biomarin-pharmaceutical-inc-to-post-q3-2018-earnings-of-0-10-per-share-jefferies-group-forecasts-bmrn.html.

Other equities analysts also recently issued research reports about the stock. Cowen and Company reiterated a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Tuesday, July 11th. Deutsche Bank AG reiterated a “buy” rating and issued a $119.00 target price (up previously from $118.00) on shares of BioMarin Pharmaceutical in a research note on Thursday, August 3rd. Leerink Swann reiterated a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Tuesday, July 18th. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $115.00 target price on shares of BioMarin Pharmaceutical in a research note on Friday, July 14th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $107.00 target price on shares of BioMarin Pharmaceutical in a research note on Friday, August 4th. 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 company’s stock. BioMarin Pharmaceutical presently has a consensus rating of “Hold” and an average price target of $111.55.

In other news, EVP Robert Baffi sold 18,415 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $92.43, for a total value of $1,702,098.45. Following the completion of the sale, the executive vice president now directly owns 129,083 shares in the company, valued at approximately $11,931,141.69. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jeffrey Robert Ajer sold 3,521 shares of the business’s stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $95.00, for a total transaction of $334,495.00. Following the completion of the sale, the executive vice president now 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 three months, insiders sold 40,686 shares of company stock valued at $3,736,318. Corporate insiders own 1.85% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of BioMarin Pharmaceutical by 18.6% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 30,612 shares of the biotechnology company’s stock worth $2,849,000 after acquiring an additional 4,804 shares during the last quarter. BT Investment Management Ltd lifted its holdings in shares of BioMarin Pharmaceutical by 67.5% in the 3rd quarter. BT Investment Management Ltd now owns 11,073 shares of the biotechnology company’s stock worth $1,031,000 after acquiring an additional 4,463 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of BioMarin Pharmaceutical by 2.0% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 259,196 shares of the biotechnology company’s stock worth $24,123,000 after acquiring an additional 5,030 shares during the last quarter. Dupont Capital Management Corp lifted its holdings in shares of BioMarin Pharmaceutical by 209.3% in the 3rd quarter. Dupont Capital Management Corp now owns 5,763 shares of the biotechnology company’s stock worth $536,000 after acquiring an additional 3,900 shares during the last quarter. Finally, Essex Investment Management Co. LLC lifted its holdings in shares of BioMarin Pharmaceutical by 21.6% in the 3rd quarter. Essex Investment Management Co. LLC now owns 9,121 shares of the biotechnology company’s stock worth $849,000 after acquiring an additional 1,618 shares during the last quarter. Hedge funds and other institutional investors own 97.58% of the company’s stock.

About BioMarin Pharmaceutical

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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