- For the first quarter, BioMarin’s Adjusted EPS outperformed estimates, reporting at 71c compared to the previous year’s 60c. The estimate for this period was 62c.
- Naglazyme, one of BioMarin’s products, saw its revenue drop by 14% on a year-to-year basis, reaching $105.6 million. The estimate had been set at $111.1 million.
- Voxzogo, another Drug produced by BioMarin, enjoyed a significant 74% increase in revenue year-on-year, matching the estimate precisely at $152.9 million.
- The EPS for the quarter was 46c, surpassing last year’s 27c and exceeding the estimate of 32c.
- Total revenue was reported at $648.8 million, marking an 8.8% increase year-on-year. However, this figure fell slightly short of the estimated $651.8 million.
- BioMarin confirmed its total revenue guidance for the entirety of 2024. They also increased their Non-GAAP Operating Margin and Non-GAAP Diluted EPS predictions.
- The company’s R&D asset review led to the fast-tracking and prioritisation of certain medicines believed to have the highest potential impact on patients.
- Strong demand for Voxzogo, which is the only approved treatment for children with achondroplasia, along with solid contributions from established enzyme products, largely drove the quarterly results, according to Mr. Hardy.
- Out of BioMarin’s 29 analysts, 20 have given a buy rating, 9 a hold, and none a sell rating.
Biomarin Pharmaceutical on Smartkarma
Analyst coverage of Biomarin Pharmaceutical on Smartkarma, the independent investment research network, shows positive sentiment. Baptista Research published two reports on Biomarin Pharmaceutical. In the first report titled “BioMarin Corporation: Will Its Strategic Portfolio Review Work? – Major Drivers,” it was highlighted that Biomarin Pharmaceutical experienced a 20% revenue growth in Q4 of 2023 compared to Q4 of 2022, with a total revenue growth of 15% for the whole of 2023. Additionally, non-GAAP earnings per share rose by 48% in Q4 2023, representing a 36% year-over-year increase. The second report, “BioMarin Pharmaceutical Inc.: Voxzogo Supply Constraints & Commercial Growth As A Growth Catalyst! – Key Drivers,” noted that the company delivered mixed results for the previous quarter, with revenues below analyst expectations but managed to beat earnings. Biomarin celebrated a robust 15% total revenue growth in the third quarter, driven by the success of Voxzogo, expected to be the company’s inaugural blockbuster product.
A look at Biomarin Pharmaceutical Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 1 | |
| Growth | 2 | |
| Resilience | 4 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 2.6 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Based on the Smartkarma Smart Scores, BioMarin Pharmaceutical has a mixed long-term outlook. While it scores well in terms of resilience with a score of 4, indicating its ability to adapt and withstand market challenges, the company’s growth and momentum scores are lower, at 2 and 3 respectively. This suggests that BioMarin Pharmaceutical may face challenges in terms of future growth and maintaining market momentum.
Additionally, the company receives a moderate score of 3 for value, indicating that it may not be currently undervalued or overvalued. However, with a low score of 1 for dividends, investors looking for dividend income may not find BioMarin Pharmaceutical to be an attractive option in that regard. Overall, BioMarin Pharmaceutical’s long-term outlook is supported by its resilience, but potential investors should carefully consider its growth opportunities and dividend yield before making investment decisions.
### BioMarin Pharmaceutical Inc. develops and commercializes therapeutic enzyme products. The Company has applied its proprietary enzyme technology to develop products for lysosomal storage diseases and for the treatment of serious burns. BioMarin’s subsidiary provides analytical and diagnostic products and services in the area of carbohydrate biology. ###
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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