Shares of BioMarin Pharmaceutical (BMRN) have gained 10.6% over the past four weeks to close the last trading session at $68.25, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $95.92 indicates a potential upside of 40.5%.The mean estimate comprises 25 short-term price targets with a standard deviation of $16.71. While the lowest estimate of $65 indicates a 4.8% decline from the ...

BioMarin Pharmaceutical (BMRN 4.75%) was a lively stock in the best way on Thursday following the release of its latest set of quarterly results. Enthusiastic investors traded the company's shares up by nearly 5% in price, contrasting quite sharply with the 0.4% decline of the S&P 500 index on the day.A pair of crushing beatsThose results were published just after market hours on Wednesday, and they showed that the company's revenue reached $747 million for its fourth quarter of 2024. That was a beefy (16%) ...

BioMarin Pharmaceutical (BMRN) reported fourth-quarter adjusted earnings per share of 92 cents, which beat the Zacks Consensus Estimate of 73 cents. Quarterly earnings rose 88% year over year, driven by higher product sales and lower operating expenses.Total revenues were $747.3 million, which rose 16% year over year on a reported basis and 21% on a constant-currency basis. Strong sales of Voxzogo drove this upside. The top line beat the Zacks Consensus Estimate of $711.9 million.See the Zacks Earnings Cale ...

On Wednesday, BioMarin Pharmaceutical Inc. BMRN reported fourth-quarter adjusted EPS of 92 cents, up from 49 cents reported a year ago, beating the consensus of 53 cents.The company reported sales of $747.31 million, beating the consensus of $713.44 million. Total Revenues increased 16% year over year, driven by Voxzogo contributions from new patient starts in all regions.In the quarter, revenues from BioMarin's Enzyme Therapies increased 9%, driven by increased patient demand in all regions and the timing ...

Financial Performance and Key Metrics - Full year 2024 total revenues grew 18% to $2.85 billion, with fourth quarter revenues increasing 16% year-over-year to $747 million [16][9] - Non-GAAP operating margin expanded over 900 basis points, reaching 28.6% for the full year 2024, and 31.1% for the fourth quarter [21][10] - Non-GAAP diluted earnings per share increased 69% to $3.52 for the full year and 88% to $0.92 for the fourth quarter [22][10] - Operating cash flow for the full year 2024 was $573 million, a 260% increase over the previous year [22] Business Line Performance - VOXZOGO for achondroplasia grew 56% year-over-year, contributing significantly to revenue growth, with total revenue of $735 million for 2024 [11][30] - Enzyme therapy business totaled over $1.9 billion for the full year, a 12% increase compared to 2023, with consistent growth across marketed brands [17][10] - PALYNZIQ revenue growth was driven by substantial patient uptake in the U.S. and ongoing expansion in Japan [37] Market Performance - VOXZOGO's revenue split for 2024 was 24% from the U.S. and 76% from international markets, indicating strong global demand [32] - The company plans to expand VOXZOGO access to over 60 countries by 2027, focusing on early diagnosis and treatment [34] Company Strategy and Industry Competition - The company is prioritizing its most promising pipeline candidates and reorganizing its operating model around business units [8] - A $500 million cost transformation program is underway to enhance profitability and support long-term growth [8] - The company aims for double-digit revenue growth in 2025, with a target of $4 billion in total revenues by 2027 [23][25] Management Commentary on Operating Environment and Future Outlook - Management expressed confidence in achieving double-digit revenue growth in 2025, supported by a strong commercial portfolio and ongoing innovation [10][13] - The company anticipates that the majority of revenue growth in 2025 will occur in the second half of the year [24] - Management highlighted the importance of early diagnosis and treatment in driving future growth, particularly for VOXZOGO [33] Other Important Information - The company expects non-GAAP operating margin for 2025 to be between 32% and 33%, reflecting continued strong revenue growth and cost transformation initiatives [26] - Non-GAAP diluted earnings per share for 2025 is expected to be between $4.20 and $4.40, indicating a strong growth trajectory [28] Q&A Session Summary Question: Insights on VOXZOGO guidance and growth expectations - Management acknowledged that while VOXZOGO is expected to grow by $200 million year-over-year, the growth rate is decelerating as the revenue base increases [50][52] - The U.S. market is a significant focus, with efforts to expand the prescriber base and increase patient starts in the 0 to 5 age cohort [56][57] Question: Business development priorities - The company is focused on both pipeline and commercial assets, with a strong interest in genetically defined conditions [62][68] - Management highlighted the importance of their global commercialization capabilities in attracting potential partners [70] Question: Durability and safety of growth hormone and CNP combo - The company aims to develop a single agent CNP drug that delivers best-in-class growth while ensuring convenience and safety for patients [79] Question: DMD program and dystrophin levels - Management indicated that the 25-week data will provide a clearer indication of whether the target of 10% dystrophin levels is achievable [86][88] Question: Diagnostic harmonization and enzyme therapy growth - The company is actively working on harmonizing diagnostic protocols across geographies to enhance patient identification and treatment [90][93]

For the quarter ended December 2024, BioMarin Pharmaceutical (BMRN) reported revenue of $747.31 million, up 15.7% over the same period last year. EPS came in at $0.92, compared to $0.49 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $711.93 million, representing a surprise of +4.97%. The company delivered an EPS surprise of +26.03%, with the consensus EPS estimate being $0.73.While investors closely watch year-over-year changes in headline numbers -- revenue and ear ...

BioMarin Pharmaceutical (BMRN) came out with quarterly earnings of $0.92 per share, beating the Zacks Consensus Estimate of $0.73 per share. This compares to earnings of $0.49 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 26.03%. A quarter ago, it was expected that this rare disease biopharmaceutical would post earnings of $0.78 per share when it actually produced earnings of $0.91, delivering a surprise of 16.67%.Over the l ...

Fourth Quarter 2024 Earnings February 19, 2025 BioMarin regularly uses both GAAP and Non-GAAP results and expectations internally to assess its financial operating performance and evaluate key business decisions related to its principal business activities: the discovery, development, manufacture, marketing and sale of innovative biologic therapies. Because Non- GAAP Income, Non-GAAP Operating Margin percentage, Non-GAAP Diluted EPS, and Non-GAAP Weighted-Average Diluted Shares Outstanding are important int ...

BioMarin Pharmaceutical exceeded earnings and revenue expectations in its Q4 2024 financial results.BioMarin Pharmaceutical (BMRN 1.16%), a leader in developing innovative therapies for rare genetic disorders, reported fourth-quarter 2024 financial results on Wednesday, Feb. 19, that topped analysts' consensus expectations. Adjusted earnings per share (EPS) reached $0.92, significantly outperforming the anticipated $0.53. Revenue in Q4 hit $747 million, exceeding the estimated $712 million and rising 16% ye ...

Financial Performance - Total revenues for Q4 2024 were $747 million, a 16% increase year-over-year, with FY 2024 total revenues reaching $2.85 billion, up 18% year-over-year[7]. - GAAP net income for Q4 2024 increased to $125 million, a 525% rise compared to Q4 2023, while non-GAAP income rose to $180 million, an 89% increase[11]. - BioMarin's GAAP diluted EPS for FY 2024 was $2.21, a 154% increase year-over-year, while non-GAAP diluted EPS was $3.52, up 69% year-over-year[11]. - Net income for the twelve months ended December 31, 2024, was $426.859 million, a significant increase from $167.645 million in 2023, representing a growth of 154%[31]. - Non-GAAP income for the twelve months ended December 31, 2024, was $686 million, up from $405 million in 2023, reflecting a growth of 69%[37]. - Non-GAAP diluted EPS for the twelve months ended December 31, 2024, was $3.52, compared to $2.08 in 2023, indicating a 69% increase[39]. - The company reported total revenues of $747.3 million for Q4 2024, a 15.7% increase from $646.2 million in Q4 2023[26]. - Net product revenues for the full year 2024 reached $2.81 billion, up 18.4% from $2.37 billion in 2023[26]. - The company achieved a net income of $124.9 million in Q4 2024, compared to $20.4 million in Q4 2023, reflecting a significant increase of 514.5%[26]. Revenue Growth Expectations - The company expects 2025 total revenues to be between $3.1 billion and $3.2 billion, representing a 10% year-over-year growth at the midpoint[16]. - The company expects double-digit revenue and profitability growth in 2025, driven by treatments for Skeletal Conditions and the Enzyme Therapies portfolio[22]. - BioMarin anticipates that VOXZOGO will achieve a revenue compound annual growth rate (CAGR) exceeding 25% from 2023 to 2027[10]. Cash Flow and Financial Health - BioMarin's operating cash flows totaled $573 million for FY 2024, a 260% increase compared to FY 2023, with total cash and investments at approximately $1.7 billion[10]. - Cash and cash equivalents increased to $942.8 million as of December 31, 2024, up from $755.1 million in 2023[28]. - Total assets grew to $6.99 billion in 2024, compared to $6.84 billion in 2023, indicating a healthy balance sheet[28]. - BioMarin's total stockholders' equity rose to $5.66 billion in 2024, up from $4.95 billion in 2023, reflecting strong financial health[28]. - Net cash provided by operating activities increased to $572.841 million in 2024 from $159.259 million in 2023, marking a rise of 259%[31]. Clinical Development and Product Expansion - BioMarin plans to submit applications to expand age eligibility for PALYNZIQ in the U.S. and Europe in the second half of 2025, pending supportive clinical data[3]. - The company is advancing five new VOXZOGO indications within its CANOPY clinical program, with pivotal studies expected to complete enrollment in the first half of 2025[7]. - The company plans to advance five new VOXZOGO indications through its CANOPY clinical program[22]. Strategic Initiatives and Organizational Changes - The company incurred severance and restructuring costs related to its 2024 portfolio strategy review, impacting SG&A expenses[40]. - A write-off of capitalized tooling and fixed assets was recorded in SG&A due to the decision to cease development of the first generation VOXZOGO pen device in Q4 2023[41]. - The company announced organizational redesign efforts in Q2 and Q3 2024 as part of its strategic review[40]. - Impairments of certain right-of-use and fixed assets were included in the restructuring costs associated with the 2024 strategy[40]. - The overall performance reflects the company's ongoing adjustments to its portfolio and strategic direction in response to market conditions[40]. Shareholder Information - The company reported a GAAP Weighted-Average Diluted Shares Outstanding of 196.6 million for Q4 2024, compared to 191.8 million for Q4 2023, reflecting an increase of approximately 2.9%[42]. - Non-GAAP Weighted-Average Diluted Shares Outstanding decreased to 196.6 million in Q4 2024 from 200.2 million in Q4 2023, indicating a reduction of about 2.0%[42]. - The company reported a decrease in common stock issuable under convertible debt from 8.4 million in the prior year to none in the current period[42]. - Approximately 4.4 million shares would have been issued under convertible notes due in 2027 if converted, reflecting potential dilution[43].