BMRN reports better-than-expected third-quarter results, beating both earnings and sales estimates. Management raises 2024 guidance.
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN ) Q3 2024 Earnings Conference Call October 29, 2024 4:30 PM ET Company Participants Traci McCarty - Head of Investor Relations Alexander Hardy - President and Chief Executive Officer Brian Mueller - Executive Vice President and Chief Financial Officer Cristin Hubbard - Executive Vice President and Chief Commercial Officer Greg Friberg - Executive Vice President and Chief Research & Development Officer Conference Call Participants Philip Nadeau - TD Cowen Salveen Richter - Goldman Sachs Jessica Fye - JPMorgan Paul Matteis - Stifel Eli Merle - UBS Cory Kasimov - Evercore Kostas Biliouris - BMO Capital Markets Joseph Schwartz - Leerink Partners Akash Tewari - Jefferies Christopher Raymond - Piper Sandler Mohit Bansal - Wells Fargo John Wang - Barclays Operator Thank you for standing by. My name is Bailey and I will be your conference operator today.
The headline numbers for BioMarin (BMRN) give insight into how the company performed in the quarter ended September 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
BioMarin Pharmaceutical (BMRN) came out with quarterly earnings of $0.91 per share, beating the Zacks Consensus Estimate of $0.78 per share. This compares to earnings of $0.46 per share a year ago.
BioMarin (BMRN) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
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BioMarin (BMRN) is well positioned to outperform the market, as it exhibits above-average growth in financials.
Investors interested in Medical - Biomedical and Genetics stocks are likely familiar with BioMarin Pharmaceutical (BMRN) and Myriad Genetics (MYGN). But which of these two companies is the best option for those looking for undervalued stocks?
BioMarin (BMRN) is technically in oversold territory now, so the heavy selling pressure might have exhausted. This along with strong agreement among Wall Street analysts in raising earnings estimates could lead to a trend reversal for the stock.
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Ascendis' TransCon CNP showed similar efficacy to BioMarin's Voxzogo, but offers once-weekly dosing, potentially improving patient adherence. The achondroplasia market is significant, with potential annual revenues approaching $1 billion, but competition may impact market share. Ascendis faces financial challenges, including a cash runway of approximately 15 months and a current ratio below 1.0.