BioMarin Pharmaceutical (BMRN) reported $745.74 million in revenue for the quarter ended September 2024, representing a year-over-year increase of 28.3%. EPS of $0.91 for the same period compares to $0.46 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $706.95 million, representing a surprise of +5.49%. The company delivered an EPS surprise of +16.67%, with the consensus EPS estimate being $0.78. While investors scrutinize revenue and earnings changes year-over-year and how they ...

Group 1: Earnings Performance - BioMarin Pharmaceutical reported quarterly earnings of $0.91 per share, exceeding the Zacks Consensus Estimate of $0.78 per share, and up from $0.46 per share a year ago, representing an earnings surprise of 16.67% [1] - The company posted revenues of $745.74 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 5.49%, compared to year-ago revenues of $581.33 million [2] - Over the last four quarters, BioMarin has surpassed consensus EPS estimates four times and topped consensus revenue estimates three times [2] Group 2: Stock Performance and Outlook - BioMarin shares have declined approximately 27.3% since the beginning of the year, contrasting with the S&P 500's gain of 22.1% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the coming quarter is $0.81 on revenues of $736.34 million, and for the current fiscal year, it is $3.24 on $2.8 billion in revenues [7] Group 3: Industry Context - The Medical - Biomedical and Genetics industry, to which BioMarin belongs, is currently in the top 30% of over 250 Zacks industries, indicating a favorable outlook [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5] - The current estimate revisions trend for BioMarin is mixed, resulting in a Zacks Rank 3 (Hold) for the stock, suggesting it is expected to perform in line with the market in the near future [6]

Financial Performance & Guidance - Third quarter VOXZOGO revenues increased by 54% year-over-year[6,7] - Third quarter Enzyme Therapies revenues grew 27% year-over-year[6,7] - The company raised full-year guidance at the midpoint: VOXZOGO revenues of $190 million (+54%), Enzyme Therapies revenues of $509 million (+27%), Non-GAAP Operating Margin of 27.7% (+11.5 ppts), and Non-GAAP Diluted Earnings per Share of $0.91 (+98%)[6] - The company reaffirmed long-term guidance, targeting ~$4 billion in revenue by 2027 and $1.25 billion+ in operating cash flow in 2027[8,15] - The company is targeting mid-teen revenue growth through 2034[15] Key Financial Metrics - Third quarter 2024 total revenue was $746 million, a 28% increase compared to the third quarter of 2023[11] - Third quarter 2024 Non-GAAP Operating Margin was 27.7%, compared to 16.2% in the third quarter of 2023[11] - Third quarter 2024 Non-GAAP Diluted EPS was $0.91, a 98% increase compared to $0.46 in the third quarter of 2023[11] - Year-to-date 2024 total revenue was $2.107 billion, a 19% increase compared to the same period in 2023[13] - Year-to-date 2024 Non-GAAP Operating Margin was 27.7%, compared to 20.1% for the same period in 2023[13] - Year-to-date 2024 Non-GAAP Diluted EPS was $2.60, a 63% increase compared to $1.60 for the same period in 2023[13]

Exhibit 99.1 Contact: Investors: Media: Traci McCarty Marni Kottle BioMarin Pharmaceutical Inc. BioMarin Pharmaceutical Inc. (415) 455-7558 (650) 374-2803 BioMarin Announces 28% Y/Y Total Revenue Growth in the Third Quarter and Increase in Full-year 2024 Guidance; Reaffirms Long-term Guidance and Outlook Third Quarter 2024 Total Revenues of $746 million (+28% Y/Y and +32% at Constant Currency Y/Y); Year-to-date 2024 Total Revenues of $2.11 billion (+19% Y/Y and +23% at Constant Currency Y/Y) During the Quar ...

Core Insights - BioMarin Pharmaceutical Inc. reported total revenues of $746 million for Q3 2024, reflecting a 28% year-over-year increase, and $2.11 billion year-to-date, up 19% year-over-year [1][3][21] - The strong performance was driven by a 54% year-over-year revenue growth for VOXZOGO® and a 27% increase in revenues from the Enzyme Therapies portfolio [1][2][3] - GAAP diluted earnings per share (EPS) for Q3 2024 reached $0.55, a 162% increase year-over-year, while non-GAAP diluted EPS was $0.91, up 98% year-over-year [1][3][21] Financial Performance - Total revenues for Q3 2024 were $746 million, compared to $581 million in Q3 2023, marking a 28% increase [3][21] - Year-to-date revenues reached $2.11 billion, up from $1.77 billion in the same period last year, representing a 19% increase [1][21] - VOXZOGO revenues were $190 million in Q3 2024, a 54% increase from $123 million in Q3 2023 [21] - Enzyme Therapies portfolio revenues increased by 27% year-over-year, driven by strong demand and order fulfillment timing [3][21] Profitability Metrics - GAAP net income for Q3 2024 was $106 million, up from $40 million in Q3 2023, a 165% increase [4][21] - Non-GAAP income increased to $178 million in Q3 2024, compared to $89 million in Q3 2023, a 100% increase [5][21] - GAAP operating margin improved to 15.3%, up from 5.3% year-over-year, while non-GAAP operating margin rose to 27.7%, up from 16.2% [15][21] Strategic Developments - The company is focused on innovation, growth, and value commitment, with ongoing advancements in its clinical programs, particularly for VOXZOGO [2][6] - BioMarin is expanding VOXZOGO access into over 20 additional countries by 2027, targeting a total addressable patient population of 24,000 for achondroplasia [11][13] - The company is also advancing its pipeline with several innovative therapies, including BMN 351 for Duchenne Muscular Dystrophy and BMN 349 for Alpha-1 antitrypsin deficiency [9][10] Cash Flow and Guidance - Operating cash flows totaled $221 million in Q3 2024, a 63% increase compared to the same period last year [17] - Total cash and investments at the end of Q3 2024 were approximately $1.5 billion [17] - The company raised its full-year 2024 guidance for total revenues, non-GAAP operating margin, and non-GAAP diluted EPS, reflecting sustained demand for VOXZOGO and growth in Enzyme Therapies [18][23]

The market expects BioMarin Pharmaceutical (BMRN) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on October 29, 2024, might help the stock move higher if these ...

SAN RAFAEL, Calif., Oct. 16, 2024 /PRNewswire/ -- BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) today announced that Alexander Hardy, President and Chief Executive Officer of BioMarin, will host a conference call and webcast on Tuesday, October 29, 2024, at 4:30 p.m. ET to discuss third quarter 2024 financial results and provide a general business update. Contacts: Investors Media Traci McCarty Marni Kottle BioMarin Pharmaceutical Inc. BioMarin Pharmaceutical Inc. (415) 455-7558 (650) 374-2803 Dial-in Number ...

Group 1: Market Overview - The S&P 500 index is near all-time highs following the Federal Reserve's rate cuts, indicating bullish investor sentiment [3] - Stocks with extreme RSI readings may present buying opportunities, particularly those that are oversold [3] Group 2: Humana Inc. Analysis - Humana Inc. has experienced a significant sell-off, with shares down over 50% in the past two years, trading at levels last seen in 2017 [4] - Despite beating analyst expectations in Q2 earnings, Humana faced a negative update on membership numbers, contributing to its decline [4] - The stock's RSI reading dropped to 15, the lowest in 16 years, suggesting a potential for a bounce back [5] Group 3: Elevance Health Analysis - Elevance Health's RSI reading of 26 indicates it is also extremely oversold, although not as severely as Humana [7] - The company was trading at all-time highs as recently as July, suggesting a more favorable long-term outlook compared to Humana [7] - Elevance shares have shown signs of recovery, gaining into the close and trading up in pre-market sessions, indicating potential for further upside [8] Group 4: BioMarin Pharmaceutical Analysis - BioMarin Pharmaceutical has been range-bound since 2016, with shares currently at $69.66, down 0.63% [10] - The company faced a significant drop of over 20% due to competitive trial results but has since consolidated, indicating a potential comeback [12] - BioMarin's RSI is at 26, and with a bullish MACD crossover approaching, there are signs of a possible rally [12]

Growth stocks are attractive to many investors, as above-average financial growth helps these stocks easily grab the market's attention and produce exceptional returns. But finding a growth stock that can live up to its true potential can be a tough task. In addition to volatility, these stocks carry above-average risk by their very nature. Also, one could end up losing from a stock whose growth story is actually over or nearing its end. However, it's pretty easy to find cutting-edge growth stocks with the ...

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? Let's take a closer look. There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The Zacks Rank favors stocks ...