Core Viewpoint - BioMarin Pharmaceutical (BMRN) has received a Zacks Rank 2 (Buy) upgrade, indicating a positive trend in earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Movement - The Zacks rating system is based on changes in earnings estimates, which are closely correlated with near-term stock price movements [2][4]. - Institutional investors utilize earnings estimates to determine the fair value of stocks, leading to buying or selling actions that affect stock prices [4]. Business Improvement Indicators - The upgrade in BioMarin's rating reflects an improvement in the company's underlying business, which is expected to drive stock appreciation [5]. - BioMarin is projected to earn $3.27 per share for the fiscal year ending December 2024, representing a year-over-year increase of 57.2% [8]. Earnings Estimate Revisions - Over the past three months, the Zacks Consensus Estimate for BioMarin has increased by 23.6%, indicating a positive trend in earnings estimates [8]. - The Zacks Rank system classifies stocks based on earnings estimate revisions, with only the top 20% of stocks receiving a 'Strong Buy' or 'Buy' rating, suggesting potential for market-beating returns [9][10].

Core Insights - BioMarin Pharmaceutical (BMRN) is currently viewed as a more attractive investment compared to Incyte (INCY) for those seeking undervalued stocks in the Medical - Biomedical and Genetics sector [1] Valuation Metrics - BMRN has a Zacks Rank of 2 (Buy), indicating a positive earnings outlook, while INCY has a Zacks Rank of 3 (Hold) [3] - BMRN's forward P/E ratio is 20.37, significantly lower than INCY's forward P/E of 54.33, suggesting BMRN is more reasonably priced [5] - The PEG ratio for BMRN is 0.50, indicating better value relative to its expected earnings growth compared to INCY's PEG ratio of 2.48 [5] - BMRN's P/B ratio stands at 2.34, while INCY's P/B ratio is 4.62, further supporting BMRN's valuation advantage [6] - Based on these metrics, BMRN has earned a Value grade of B, whereas INCY has a Value grade of C [6] Conclusion - Overall, BMRN is positioned as the superior value option due to its solid earnings outlook and favorable valuation metrics compared to INCY [7]

Table of Contents Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.001 BMRN The Nasdaq Global Select Market ______________________________________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________ Form 10-Q ______________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANG ...

BioMarin Pharmaceutical (BMRN) reported adjusted earnings per share of 91 cents in third-quarter 2024, beating the Zacks Consensus Estimate of 78 cents. Quarterly earnings rose 98% year over year, driven by higher sales, partially offset by rising operating expenses. Total revenues were $746 million in the reported quarter, up 28% year over year on a reported basis and 32% on a constant-currency basis. Strong sales of Voxzogo drove this upside. The top line beat the Zacks Consensus Estimate of $707 million. ...

Financial Data and Key Metrics Changes - BioMarin reported record financial results with revenues reaching $746 million, a 28% increase compared to the same period in 2023 [5][19] - Non-GAAP diluted earnings per share increased nearly double compared to Q3 2023, totaling $0.91, while GAAP diluted earnings per share increased 162% to $0.55 [25][26] - Operating cash flows totaled $221 million in Q3, an increase of 63% compared to the same quarter last year [26][27] Business Line Data and Key Metrics Changes - VOXZOGO revenue grew 54% year-over-year, reaching $190 million in Q3, driven by new patient starts and expanded indications [8][19] - Enzyme Therapies portfolio generated $509 million in revenue, representing a 27% year-over-year increase, with ALDURAZYME being a significant contributor [20][13] - NAGLAZYME experienced a 21% year-over-year growth, while PALYNZIQ revenues increased 15% year-over-year [21][78] Market Data and Key Metrics Changes - The U.S. and EU markets comprise approximately 32% of the global total addressable patient population for achondroplasia, with 68% insulated from mid-term competitive threats [11][12] - BioMarin aims to expand VOXZOGO into more than 20 additional markets by 2027, with approximately 90% of the global achondroplasia patient population outside the U.S. [34] Company Strategy and Development Direction - The company is implementing a new corporate strategy focused on innovation, growth, and value commitment, structuring around new business units [6][30] - BioMarin is targeting approximately $4 billion in total revenues by 2027 and aims for a mid-teen compound annual growth rate for total revenues through 2034 [15][30] - The company plans to vigorously defend its intellectual property and leverage its global capabilities to maintain market leadership [12][62] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the sustained leadership across the Skeletal Conditions franchise and the long-term growth potential of the Enzyme Therapies portfolio [9][13] - The company reaffirmed its long-term guidance despite increased competition, indicating that its initial guidance was not conservative [71][72] Other Important Information - BioMarin settled $495 million of convertible debt maturity in cash during Q3, retiring approximately 4 million potentially dilutive shares [27] - The company has a strong balance sheet with total cash and investments of approximately $1.5 billion at the end of Q3 2024 [27] Q&A Session Summary Question: What phase of development would be ideal for BioMarin at this stage in the pipeline's maturity? - Management indicated a focus on transactions less than $1.5 billion, leveraging their scientific capabilities and identifying earlier transactions to bolster research efforts [52][55] Question: Can you walk through the development strategy for BMN 333? - Management expressed excitement about BMN 333, highlighting its potential to increase pharmacokinetic exposure and efficacy in treating genetic skeletal disorders [58][60] Question: What is driving the increase in the ERT business growth? - The growth is primarily driven by PALYNZIQ, with strong patient uptake in the U.S. and new initiatives aimed at high-yield patient finding and geographic expansion [76][78] Question: Can you provide more color on the competitive positioning of PALYNZIQ? - Management believes the addition of new agents in the PKU space will benefit patients by providing more treatment options, and they are developing a next-generation PALYNZIQ [92][94] Question: What is the status of the transition to full approval for VOXZOGO? - Management is committed to measuring final adult height on patients from the pivotal study and is focused on converting to full approval [90][91]

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 ...

BioMarin Pharmaceutical (BMRN) came out with quarterly earnings of $0.91 per share, beating the Zacks Consensus Estimate of $0.78 per share. This compares to earnings of $0.46 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 16.67%. A quarter ago, it was expected that this rare disease biopharmaceutical would post earnings of $0.57 per share when it actually produced earnings of $0.96, delivering a surprise of 68.42%.Over the l ...

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 ...

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 Quarter, Strong Demand Drove 54% Y/Y Revenue Growth for VOXZOGO®During the Quarter, Revenues from Enzyme Therapies Portfolio Increased 27% Y/YThird Quarter 2024 GAAP Diluted Earnings Per Share (EPS) of $0.55 (+162% Y/Y); Year-to-date 2024 GAAP Diluted EPS of $1.56 (+103% Y/Y)Third Quarter 2024 Non-GAAP Diluted ...