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Surging Earnings Estimates Signal Good News for BioMarin Pharmaceutical (BMRN)
BioMarin Pharmaceutical Inc. (BMRN - Free Report) develops and commercializes pharmaceuticals for serious diseases and medical conditions that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on BMRN’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that BioMarin Pharmaceutical could be a solid choice for investors.
Current Quarter Estimates for BMRN
In the past 30 days, one estimate has gone higher for BioMarin Pharmaceutical while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 25 cents a share 30 days ago, to a loss of 24 cents today, a move of 4%.
Current Year Estimates for BMRN
Meanwhile, BioMarin Pharmaceutical’s current year figures are also looking quite promising, with one estimate moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 65 cents per share 30 days ago to a loss of 64 cents per share today, an increase of 1.5%.
BioMarin Pharmaceutical Inc. Price and Consensus
BioMarin Pharmaceutical Inc. Price and Consensus | BioMarin Pharmaceutical Inc. Quote
Bottom Line
The stock has also started to move higher lately, adding 13.9% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks Editor-in-Chief Goes "All In" on This Stock
Full disclosure, Kevin Matras now has more of his own money in one particular stock than in any other. He believes in its short-term profit potential and also in its prospects to more than double by 2019. Today he reveals and explains his surprising move in a new Special Report.
Download it free >>