BioMarin Pharmaceutical (NASDAQ:BMRN) Issues Earnings Results

BioMarin Pharmaceutical (NASDAQ:BMRN) posted its earnings results on Wednesday. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.18, Zacks reports. BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%.

BioMarin Pharmaceutical Stock Up 1.2 %

NASDAQ BMRN traded up $0.75 on Wednesday, hitting $65.61. 1,735,669 shares of the stock traded hands, compared to its average volume of 1,500,464. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. The stock has a 50-day moving average of $64.79 and a 200 day moving average of $71.10. BioMarin Pharmaceutical has a twelve month low of $60.63 and a twelve month high of $94.85. The company has a market capitalization of $12.50 billion, a P/E ratio of 39.29, a price-to-earnings-growth ratio of 0.57 and a beta of 0.28.

Wall Street Analyst Weigh In

BMRN has been the topic of several analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, December 12th. Canaccord Genuity Group decreased their price target on shares of BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th. Wedbush upgraded BioMarin Pharmaceutical to a “strong-buy” rating in a report on Monday, November 4th. Citigroup reduced their target price on BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $80.00 price target on shares of BioMarin Pharmaceutical in a research report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and an average price target of $94.20.

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.