BMRN FY2024 EPS Estimate Raised by Cantor Fitzgerald

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) – Equities research analysts at Cantor Fitzgerald raised their FY2024 earnings per share (EPS) estimates for BioMarin Pharmaceutical in a research note issued to investors on Wednesday, October 30th. Cantor Fitzgerald analyst O. Brayer now expects that the biotechnology company will post earnings of $2.43 per share for the year, up from their previous forecast of $2.36. Cantor Fitzgerald currently has a “Overweight” rating and a $90.00 price target on the stock. The consensus estimate for BioMarin Pharmaceutical’s current full-year earnings is $2.39 per share.

Several other equities analysts have also weighed in on BMRN. Truist Financial reduced their price target 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. Barclays decreased their price target on shares of BioMarin Pharmaceutical from $110.00 to $86.00 and set an “overweight” rating for the company in a research note on Friday, October 4th. Wells Fargo & Company lowered their price target on shares of BioMarin Pharmaceutical from $115.00 to $90.00 and set an “overweight” rating on the stock in a report on Tuesday, September 17th. Bank of America decreased their target price on BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Finally, Sanford C. Bernstein lowered their price objective on BioMarin Pharmaceutical from $116.00 to $90.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 17th. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and an average target price of $93.67.

BioMarin Pharmaceutical Stock Down 4.6 %

BMRN stock opened at $66.68 on Thursday. The stock has a market cap of $12.66 billion, a P/E ratio of 62.32, a P/E/G ratio of 0.81 and a beta of 0.31. The company has a current ratio of 3.05, a quick ratio of 1.95 and a debt-to-equity ratio of 0.11. The stock’s fifty day simple moving average is $76.08 and its two-hundred day simple moving average is $80.94. BioMarin Pharmaceutical has a 1-year low of $65.78 and a 1-year high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). The business had revenue of $746.00 million during the quarter, compared to analysts’ expectations of $703.37 million. BioMarin Pharmaceutical had a return on equity of 6.91% and a net margin of 9.91%. BioMarin Pharmaceutical’s quarterly revenue was up 28.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.26 EPS.

Institutional Trading of BioMarin Pharmaceutical

A number of large investors have recently modified their holdings of the business. Innealta Capital LLC purchased a new position in BioMarin Pharmaceutical in the 2nd quarter worth approximately $25,000. nVerses Capital LLC bought a new stake in BioMarin Pharmaceutical during the third quarter worth about $28,000. BOKF NA purchased a new position in shares of BioMarin Pharmaceutical in the 2nd quarter worth about $31,000. Quent Capital LLC boosted its holdings in shares of BioMarin Pharmaceutical by 58.9% in the 2nd quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 145 shares in the last quarter. Finally, Itau Unibanco Holding S.A. bought a new position in shares of BioMarin Pharmaceutical during the 2nd quarter valued at about $47,000. Institutional investors 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.