Biomarin Pharmaceutical Inc (NASDAQ:BMRN) reported weaker-than-expected earnings for the third quarter on Monday.
The company posted quarterly earnings of 12 cents per share which missed the analyst consensus estimate of 37 cents per share. The company reported quarterly sales of $776.133 million which missed the analyst consensus estimate of $780.629 million.
BioMarin Pharmaceutical lowered its FY2025 adjusted EPS guidance from $4.40-$4.55 to $3.50-$3.60 but raised its sales guidance from $3.125 billion-$3.200 billion to $3.150 billion-$3.200 billion.
“We are pleased with the contributions from our Enzyme Therapies and Skeletal Conditions business units to date this year driven by more than 20% revenue growth from PALYNZIQ and VOXZOGO,” said Alexander Hardy, President and Chief Executive Officer of BioMarin.
Biomarin Pharmaceutical shares gained 4.3% to $54.95 on Tuesday.
These analysts made changes to their price targets on Biomarin Pharmaceutical following earnings announcement.
- Morgan Stanley analyst Matthew Harrison maintained BioMarin Pharmaceutical with an Overweight rating and lowered the price target from $104 to $98.
- HC Wainwright & Co. analyst Mitchell S. Kapoor maintained the stock with a Neutral and cut the price target from $60 to $55.
- Barclays analyst Gena Wang maintained BioMarin Pharmaceutical with an Overweight rating and lowered the price target from $86 to $80.
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