BioMarin Pharmaceutical Inc. (BMRN - Free Report) , an American biotechnology company, 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 could be a solid choice for investors.
Current Quarter Estimates for BMRN
In the past 30 days, 7 estimates have gone higher for BioMarin while 2 have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 47 cents a share 30 days ago, to a loss of 37 cents today, a move of 21.3%.
Current Year Estimates for BMRN
Meanwhile, BioMarin’s current year figures are also looking quite promising, with 5 estimates moving higher in the past month, compared to 1 lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 25 cents per share 30 days ago to a loss of 11 cents per share today, an increase of 56%.
The stock has also started to move higher lately, adding 5.3% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely 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.
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