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BioMarin: 3Q Earnings Snapshot

·1 min read

SAN RAFAEL, Calif. (AP) _ BioMarin Pharmaceutical Inc. (BMRN) on Thursday reported third-quarter net income of $784.8 million.

The San Rafael, California-based company said it had net income of $4.01 per share. Earnings, adjusted for one-time gains and costs, were 54 cents per share.

The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.

The rare disease biopharmaceutical posted revenue of $476.8 million in the period, also exceeding Street forecasts. Ten analysts surveyed by Zacks expected $460.1 million.

BioMarin expects full-year revenue in the range of $1.81 billion to $1.87 billion.

BioMarin shares have declined 11% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $75.05, an increase of 0.5% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BMRN at https://www.zacks.com/ap/BMRN