BioMarin Pharmaceutical Inc. (BMRN) Expected to Announce Quarterly Sales of $379.66 Million
Analysts forecast that BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) will announce sales of $379.66 million for the current fiscal quarter, according to Zacks Investment Research. Eleven analysts have made estimates for BioMarin Pharmaceutical’s earnings, with the highest sales estimate coming in at $393.30 million and the lowest estimate coming in at $354.89 million. BioMarin Pharmaceutical posted sales of $358.31 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 6%. The firm is expected to issue its next earnings report after the market closes on Thursday, February 21st.
On average, analysts expect that BioMarin Pharmaceutical will report full year sales of $1.51 billion for the current financial year, with estimates ranging from $1.49 billion to $1.53 billion. For the next financial year, analysts expect that the firm will report sales of $1.73 billion, with estimates ranging from $1.64 billion to $1.81 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow BioMarin Pharmaceutical.
Several research firms have weighed in on BMRN. Cantor Fitzgerald set a $126.00 price target on shares of BioMarin Pharmaceutical and gave the company a “buy” rating in a report on Friday, October 26th. Raymond James cut shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating and set a $83.16 price target on the stock. in a report on Wednesday, January 2nd. BidaskClub cut shares of BioMarin Pharmaceutical from a “hold” rating to a “sell” rating in a report on Thursday, November 8th. Wedbush reissued an “outperform” rating and issued a $127.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, February 7th. Finally, Oppenheimer began coverage on shares of BioMarin Pharmaceutical in a report on Thursday, December 13th. They issued a “hold” rating and a $92.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $113.34.
In related news, Director V Bryan Lawlis sold 2,150 shares of the stock in a transaction that occurred on Thursday, December 27th. The shares were sold at an average price of $82.53, for a total transaction of $177,439.50. Following the sale, the director now owns 21,310 shares in the company, valued at approximately $1,758,714.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jean Jacques Bienaime sold 4,000 shares of the stock in a transaction that occurred on Wednesday, December 26th. The stock was sold at an average price of $80.50, for a total transaction of $322,000.00. Following the sale, the chief executive officer now owns 292,290 shares in the company, valued at approximately $23,529,345. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,150 shares of company stock worth $3,350,530. Company insiders own 1.90% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Doyle Wealth Management acquired a new stake in shares of BioMarin Pharmaceutical during the 4th quarter worth approximately $26,000. Commonwealth Bank of Australia boosted its position in shares of BioMarin Pharmaceutical by 49.6% during the 4th quarter. Commonwealth Bank of Australia now owns 350 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 116 shares in the last quarter. Lindbrook Capital LLC acquired a new stake in shares of BioMarin Pharmaceutical during the 4th quarter worth approximately $30,000. PRW Wealth Management LLC acquired a new stake in shares of BioMarin Pharmaceutical during the 4th quarter worth approximately $30,000. Finally, Lake Point Wealth Management acquired a new stake in shares of BioMarin Pharmaceutical during the 4th quarter worth approximately $34,000.
BioMarin Pharmaceutical Company Profile
BioMarin Pharmaceutical, Inc, a biotechnology company, develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Aldurazyme that is used for the treatment of patients with mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Firdapse for Lambert Eaton Myasthenic Syndrome.
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