BioMarin: Q3 Earnings Snapshot
SAN RAFAEL, Calif. (AP) — SAN RAFAEL, Calif. (AP) — BioMarin Pharmaceutical Inc. (BMRN) on Wednesday reported third-quarter net income of $40.4 million, after reporting a loss in the same period a year earlier.
The San Rafael, California-based company said it had profit of 21 cents per share. Earnings, adjusted for one-time gains and costs, came to 46 cents per share.
The results met Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was also for earnings of 46 cents per share.
The rare disease biopharmaceutical posted revenue of $581.3 million in the period, which did not meet Street forecasts. Eleven analysts surveyed by Zacks expected $603.5 million.
BioMarin expects full-year earnings in the range of $1.90 to $2.05 per share, with revenue in the range of $2.39 billion to $2.47 billion.
BioMarin shares have decreased 19% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $84.01, a decline of 3% 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
