- BioMarin’s 4th Quarter Adjusted Earnings Per Share (EPS) surpassed expectations with 92 cents compared to the previous year’s 49 cents, and an estimate of 73 cents.
- The company’s EPS for the quarter was 64 cents, significantly up from 11 cents year-over-year, beating the estimate of 52 cents.
- Total revenue for the quarter reached $747 million, marking a 16% increase from the previous year and exceeding the projected $712.5 million.
- Naglazyme, one of the revenue driving products, reported $110 million, rising by 12% year-over-year, albeit slightly below the estimate of $112.6 million.
- Voxzogo revenue rose sharply by 43% to $208 million, exceeding the forecast of $204 million. This product is poised for a compound annual growth rate (CAGR) exceeding 25% from 2023 to 2027.
- BioMarin projects double-digit revenue increases for PALYNZIQ throughout 2024, with consistent growth expected for other enzyme treatments into 2025.
- The Skeletal Conditions business unit is expected to experience strong growth in 2025, driven largely by the global expansion of VOXZOGO for achondroplasia.
- The market analysts’ sentiment remains positive with 22 buy recommendations, 7 holds, and no sell recommendations.
Biomarin Pharmaceutical on Smartkarma
Analysts on Smartkarma, like Baptista Research, are closely examining Biomarin Pharmaceutical’s latest developments. In a bullish report titled “BioMarin Pharmaceutical Inc.: Enhancement of Enzyme Replacement Therapy (ERT) Portfolio,” the company’s strong performance in the third quarter of 2024 takes the spotlight. With a noteworthy 28% year-on-year revenue growth to $746 million, Biomarin has set a new record. The surge in sales of VOXZOGO, a treatment for achondroplasia, played a significant role in this success, propelled by increased market penetration in the U.S. and expansions into new regions.
A look at Biomarin Pharmaceutical Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 1 | |
| Growth | 5 | |
| Resilience | 4 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 3.2 |
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
Looking at the Smartkarma Smart Scores for Biomarin Pharmaceutical, the company seems to have a promising long-term outlook. With a high Growth score and solid Resilience score, Biomarin Pharmaceutical appears well-positioned for future success. The company’s focus on developing therapeutic enzyme products for various medical conditions, including lysosomal storage diseases and serious burns, highlights its commitment to innovation and addressing unmet medical needs.
Although Biomarin Pharmaceutical may not rank as high in terms of Value and Dividend scores, its strong performance in Growth and Resilience indicates potential for continued expansion and durability in the market. Investors looking for a company with a focus on cutting-edge treatments and a solid foundation for growth may find Biomarin Pharmaceutical an appealing choice for long-term investment.
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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