Biotech company BioMarin Pharmaceutical (NASDAQ:BMRN) will be reporting results this Thursday after the bell. Here’s what investors should know.
BioMarin Pharmaceutical missed analysts’ revenue expectations last quarter, reporting revenues of $766.2 million, up 2.8% year on year. It was a mixed quarter for the company, with a solid beat of analysts’ full-year EPS guidance estimates but a significant miss of analysts’ EPS estimates.
Is BioMarin Pharmaceutical a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting BioMarin Pharmaceutical’s revenue to grow 12.6% year on year, slowing from the 15.9% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. BioMarin Pharmaceutical has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at BioMarin Pharmaceutical’s peers in the therapeutics segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Biogen delivered year-on-year revenue growth of 3.4%, beating analysts’ expectations by 12.1%, and Amgen reported revenues up 9.5%, topping estimates by 6.9%. Biogen traded up 1.1% following the results.
Read our full analysis of Biogen’s results here and Amgen’s results here.
Investors in the therapeutics segment have had steady hands going into earnings, with share prices up 1.4% on average over the last month. BioMarin Pharmaceutical is up 1.2% during the same time and is heading into earnings with an average analyst price target of $87.92 (compared to the current share price of $59.50).
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