BioMarin Pharmaceutical (BMRN) Releases Earnings Results, Misses Expectations By $-0.25 EPS

BioMarin Pharmaceutical (BMRN) reported quarterly earnings results on Thursday, Apr-28-2016. The company reported $-0.53 earnings per share for the quarter, missing the analyst consensus estimate by $-0.25. Analysts had a consensus of $-0.28. The company posted revenue of $236.70 million in the period, compared to analysts expectations of $239.85 million. The company’s revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.43 EPS.

Many Wall Street Analysts have commented on BioMarin Pharmaceutical. Robert W. Baird Upgraded BioMarin Pharmaceutical on Mar 8, 2016 to ” Outperform”, Price Target of the shares are set at $110.Company shares were Reiterated by Stifel on Mar 3, 2016 to “Buy”, Firm has raised the Price Target to $ 107 from a previous price target of $105 .Shares were Reiterated by Wedbush on Feb 29, 2016 to “Neutral” and Lowered the Price Target to $ 105 from a previous price target of $117 .

BioMarin Pharmaceutical closed down -0.99 points or -1.12% at $87.72 with 10,11,259 shares getting traded on Wednesday. Post opening the session at $87.01, the shares hit an intraday low of $86.22 and an intraday high of $88.61 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Mar 16, 2016, George Eric Davis (EVP, General Counsel) sold 1,996 shares at $86.21 per share price. According to the SEC, on Mar 7, 2016, Jeffrey Robert Ajer (SVP, Chief Commercial Officer) sold 1,255 shares at $88.42 per share price. On Mar 2, 2016, Jean Jacques Bienaime (Chief Executive Officer) sold 10,000 shares at $84.26 per share price, according to the Form-4 filing with the securities and exchange commission.

BioMarin Pharmaceutical Inc. develops and commercializes pharmaceuticals for serious diseases and medical conditions. The Company’s product portfolio is comprised of five approved products and multiple clinical and pre-clinical product candidates. Its approved products are Vimizim (elosulfase alpha) Naglazyme (galsulfase) Kuvan (sapropterin dihydrochloride) Aldurazyme (laronidase) and Firdapse (amifampridine phosphate). Vimizim received marketing approval in the United States the European Union and subsequently in several other countries. Naglazyme received marketing approval in the United States the European Union and subsequently in other countries. Kuvan was granted marketing approval in the United States the European Union. Aldurazyme which was developed in collaboration with Genzyme Corporation (Genzyme) was approved for marketing in the United States the European Union and subsequently in other countries. Firdapse was approved by the European Medicines Agency (EMA).

BioMarin Pharmaceutical

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