Wall Street brokerages forecast that BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) will report $410.70 million in sales for the current quarter, Zacks reports. Ten analysts have issued estimates for BioMarin Pharmaceutical’s earnings, with the highest sales estimate coming in at $421.90 million and the lowest estimate coming in at $399.30 million. BioMarin Pharmaceutical posted sales of $372.85 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 10.2%. The company is expected to report its next earnings results on Thursday, August 1st.

On average, analysts expect that BioMarin Pharmaceutical will report full year sales of $1.69 billion for the current year, with estimates ranging from $1.67 billion to $1.71 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.96 billion, with estimates ranging from $1.81 billion to $2.11 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover BioMarin Pharmaceutical.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Thursday, April 25th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. BioMarin Pharmaceutical had a negative return on equity of 2.97% and a negative net margin of 5.90%. The business had revenue of $400.70 million for the quarter, compared to the consensus estimate of $389.95 million. During the same period in the prior year, the business posted $0.12 earnings per share. The company’s quarterly revenue was up 7.3% compared to the same quarter last year.

A number of equities research analysts have issued reports on BMRN shares. TheStreet downgraded BioMarin Pharmaceutical from a “c-” rating to a “d+” rating in a research report on Tuesday, May 7th. Citigroup restated a “buy” rating on shares of BioMarin Pharmaceutical in a research report on Thursday. Cantor Fitzgerald restated a “buy” rating and set a $131.00 price objective on shares of BioMarin Pharmaceutical in a research report on Tuesday, April 2nd. Wedbush set a $127.00 target price on BioMarin Pharmaceutical and gave the company a “buy” rating in a research note on Tuesday, February 26th. Finally, Zacks Investment Research cut BioMarin Pharmaceutical from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the company. BioMarin Pharmaceutical has a consensus rating of “Buy” and an average price target of $116.00.

BMRN stock traded down $0.72 during midday trading on Thursday, reaching $86.97. 911,120 shares of the company traded hands, compared to its average volume of 1,073,849. BioMarin Pharmaceutical has a 52-week low of $79.13 and a 52-week high of $106.74. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.83 and a quick ratio of 2.76. The company has a market cap of $15.70 billion, a PE ratio of -263.55 and a beta of 1.46.

In other BioMarin Pharmaceutical news, CEO Jean Jacques Bienaime sold 4,000 shares of the stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $91.78, for a total transaction of $367,120.00. Following the sale, the chief executive officer now owns 292,290 shares of the company’s stock, valued at approximately $26,826,376.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Henry J. Fuchs sold 2,196 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $95.00, for a total value of $208,620.00. Following the sale, the insider now directly owns 142,504 shares in the company, valued at approximately $13,537,880. The disclosure for this sale can be found here. In the last three months, insiders sold 100,011 shares of company stock worth $8,945,008. 1.90% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. United Services Automobile Association boosted its position in BioMarin Pharmaceutical by 4.2% during the 4th quarter. United Services Automobile Association now owns 72,686 shares of the biotechnology company’s stock valued at $6,189,000 after acquiring an additional 2,903 shares in the last quarter. Hsbc Holdings PLC boosted its position in BioMarin Pharmaceutical by 24.9% during the 4th quarter. Hsbc Holdings PLC now owns 275,769 shares of the biotechnology company’s stock valued at $23,480,000 after acquiring an additional 55,006 shares in the last quarter. Gateway Investment Advisers LLC boosted its position in BioMarin Pharmaceutical by 41.6% during the 4th quarter. Gateway Investment Advisers LLC now owns 19,644 shares of the biotechnology company’s stock valued at $1,673,000 after acquiring an additional 5,772 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in BioMarin Pharmaceutical by 10.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,104,446 shares of the biotechnology company’s stock valued at $94,043,000 after acquiring an additional 106,391 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in BioMarin Pharmaceutical by 136.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 16,717 shares of the biotechnology company’s stock valued at $1,423,000 after acquiring an additional 9,650 shares in the last quarter.

About BioMarin Pharmaceutical

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 to treat mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.

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

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