BioMarin Pharmaceutical ahead of Q3 earnings: what to expect

what happened

According to stockstory.org, biotech company BioMarin Pharmaceutical will report third-quarter results tomorrow after the market closes. Last quarter revenue reached $989.7 million, up 19.9% from a year earlier. The company beat analysts' expectations for both revenue and earnings per share and narrowly exceeded its full-year EPS guidance estimates.

This quarter, the market expects revenue to grow 31.9% year on year, compared with 4.1% a year earlier. Analysts have broadly confirmed their estimates over the past 30 days. BioMarin has, however, missed revenue forecasts several times over the last two years.

Peers have already reported. Biogen posted revenue growth of 10.6% and beat expectations by 6.4%, yet its shares fell 1.2%. Gilead Sciences grew revenue 6.8%, topping estimates by 6.3%, and its stock rose 4.1%. BioMarin shares are up 1.7% over the past month, with an average analyst price target of $91.56 against a current price of $58.54.

why it matters

The report matters mainly to BioMarin investors and a narrow group of biotech stocks, so its reach beyond the sector is limited. Biogen and Gilead are the more useful signal for the sector, showing steady demand for therapies even though share reactions to results have varied.

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