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BioMarin Reports Record Financial Results for the First Quarter 2024
PRNewswire (Wed, 24-Apr 4:03 PM ET)
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BioMarin Announces Appointment of Cristin Hubbard as Chief Commercial Officer
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BioMarin's focus is on rare-disease therapies. Genzyme markets Aldurazyme through its joint venture with BioMarin, and BioMarin markets Naglazyme, Vimizim, and Brineura independently. BioMarin also markets Kuvan and Palynziq to treat the rare metabolic disorder PKU. Voxzogo (vosoritide) was approved in achondroplasia in 2021. BioMarin's Roctavian (hemophilia A gene therapy) was approved in Europe in 2022 and in the US in 2023.
Biomarin Pharmaceutical trades on the NASDAQ stock market under the symbol BMRN.
As of May 1, 2024, BMRN stock price climbed to $82.44 with 750,533 million shares trading.
BMRN has a beta of 0.24, meaning it tends to be less sensitive to market movements. BMRN has a correlation of 0.02 to the broad based SPY ETF.
BMRN has a market cap of $15.65 billion. This is considered a Large Cap stock.
Last quarter Biomarin Pharmaceutical reported $649 million in Revenue and $.71 earnings per share. This fell short of revenue expectation by $-3 million and exceeded earnings estimates by $.37.
In the last 3 years, BMRN stock traded as high as $117.77 and as low as $70.73.
The top ETF exchange traded funds that BMRN belongs to (by Net Assets): VTI, VO, VXF, VUG, VOT.
BMRN has underperformed the market in the last year with a price return of -14.2% while the SPY ETF gained +22.1%. BMRN has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -8.0% and -9.3%, respectively, while the SPY returned +2.4% and -0.5%, respectively.
BMRN support price is $79.69 and resistance is $81.83 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that BMRN stock will trade within this expected range on the day.