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BioMarin Q4 Earnings & Sales Top Estimates, Stock Up on Upbeat '25 View
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BioMarin Pharmaceutical (BMRN - Free Report) 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.
Product revenues totaled $735.6 million, which rose 16% year over year on higher revenues from Voxzogo, Vimizim, Naglazyme and Palynziq. This was partially offset by lower Kuvan sales.
Royalty and other revenues totaled $11.7 million, down 11% year over year.
Voxzogo Sales Drive BioMarin’s Top Line
Voxzogo, approved for achondroplasia, generated sales of $208 million, up 42% year over year, driven by strong demand across all marketed territories. During the quarter, BioMarin generated about 26% of the figure from sales in the United States and the rest from ex-U.S. markets.
The drug’s sales beat the Zacks Consensus Estimate and our model estimate of $196 million and $202 million, respectively.
BMRN’s Enzyme Therapies Boost Sales Growth
In September, the company updated its organizational structure and decided to consolidate revenues from its five products — Aldurazyme, Brineura, Naglazyme, Palynziq and Vimizim — under a single head 'Enzyme Therapies.'
Palynziq injection sales grossed $100 million in the quarter, up 14% year over year, driven by increased patient uptake in the United States. The drug’s sales beat the Zacks Consensus Estimate of $94 million and our model estimate of $91 million.
Vimizim sales increased 9% year over year to $191 million, which beat the Zacks Consensus Estimate and our model estimate of $182 million each. Naglazyme sales rose 12% year over year to $110 million. Brineura added sales of $48 million, which rose 9% year over year. Sales of these drugs were driven by new patient starts and continued efforts to ensure treatment continuity for existing patients.
Product revenues from Aldurazyme totaled $39 million, down 9% year over year, likely due to the unfavorable timing of order fulfillment to Sanofi (SNY - Free Report) .
BioMarin signed a collaboration agreement with Sanofi’s subsidiary, Genzyme, for Aldurazyme. Sanofi, through Genzyme, is BMRN’s sole customer for Aldurazyme. The Sanofi subsidiary is responsible for marketing and selling Aldurazyme to third parties.
Other Revenues
New gene therapy, Roctavian, generated $11 million in sales compared with $3 million in the year-ago period. Sales likely rose as part of the company’s updated strategy to focus on three prioritized countries — the United States, Germany and Italy.
In the phenylketonuria franchise, Kuvan revenues declined 24% to $28 million due to generic competition. The drug lost U.S. market exclusivity in late 2020.
Full-Year 2024 Results
BioMarin reported total revenues of $2.85 billion, up 18% year over year on a reported basis and 22% on a constant-currency basis.
The company’s reported earnings for 2024 were $3.52 per share, up 69% from the year-ago period’s level.
BMRN’s 2025 Outlook Encouraging
For 2025, BioMarin expects to record total revenues in the range of $3.1-$3.2 billion, implying an increase of around 10% year over year at the midpoint. The Zacks Consensus Estimate is pegged at around $3.07 billion. Management reiterated its target to achieve $4 billion in total revenues by 2027.
Management expects Voxzogo to be a significant contributor to the top line. It anticipates the drug’s sales to be in the range of $900-$950 million. Based on the encouraging uptake for Voxzogo, BioMarin expects the drug’s sales to witness a compound annual growth rate (CAGR) of more than 25% during 2023-2027.
Adjusted operating margin is expected to be between 32% and 33%.
BioMarin expects adjusted earnings per share to be in the range of $4.20-$4.40, suggesting 22% growth over last year’s level at the midpoint. The Zacks Consensus Estimate is pinned at $4.01.
Shares of BioMarin rose more than 9% in after-market trading on Wednesday, likely due to the encouraging guidance. Year to date, the stock has underperformed the industry.
Image Source: Zacks Investment Research
BMRN’s Recent Pipeline Updates
BioMarin is actively enrolling patients in a pivotal registrational program on Voxzogo in patients with hypochondroplasia, a condition characterized by impaired bone growth. Management has also advanced the drug in clinical studies for four other short-stature pathway conditions — idiopathic short stature, Noonan Syndrome, Turner Syndrome and SHOX deficiency. Enrollment in all these programs is currently ongoing.
The company expects to report data from a late-stage study evaluating Palynziq for PKU in adolescents in the second half of 2025. If data from this study is positive, management will target regulatory filings for the drug in the United States by late 2025 and in ex-U.S. territories by early 2026.
Before this year’s end, management also expects to report initial proof-of-concept data from an early-stage study on BMN 351, a next-generation oligonucleotide for Duchenne muscular dystrophy.
Estimates for argenx’s 2025 earnings per share (EPS) have increased from $2.07 to $3.13 over the past 60 days, while the same for 2026 has increased from $9.07 to $10.85. ARGX’s shares have gained 4% year to date.
argenx's earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average surprise of 339.37%.
Estimates for Day One Biopharmaceuticals’ loss per share have narrowed from 88 cents to 72 cents for 2025, while that for 2026 have improved from 99 cents to 97 cents. DAWN’s shares have lost 7% year to date.
Day One’s earnings beat estimates in two of the trailing four quarters and missed in the other two, delivering an average surprise of 90.70%.
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BioMarin Q4 Earnings & Sales Top Estimates, Stock Up on Upbeat '25 View
BioMarin Pharmaceutical (BMRN - Free Report) 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 Calendar to stay ahead of market-making news.
More on BMRN’s Q4 Earnings
Product revenues totaled $735.6 million, which rose 16% year over year on higher revenues from Voxzogo, Vimizim, Naglazyme and Palynziq. This was partially offset by lower Kuvan sales.
Royalty and other revenues totaled $11.7 million, down 11% year over year.
Voxzogo Sales Drive BioMarin’s Top Line
Voxzogo, approved for achondroplasia, generated sales of $208 million, up 42% year over year, driven by strong demand across all marketed territories. During the quarter, BioMarin generated about 26% of the figure from sales in the United States and the rest from ex-U.S. markets.
The drug’s sales beat the Zacks Consensus Estimate and our model estimate of $196 million and $202 million, respectively.
BMRN’s Enzyme Therapies Boost Sales Growth
In September, the company updated its organizational structure and decided to consolidate revenues from its five products — Aldurazyme, Brineura, Naglazyme, Palynziq and Vimizim — under a single head 'Enzyme Therapies.'
Palynziq injection sales grossed $100 million in the quarter, up 14% year over year, driven by increased patient uptake in the United States. The drug’s sales beat the Zacks Consensus Estimate of $94 million and our model estimate of $91 million.
Vimizim sales increased 9% year over year to $191 million, which beat the Zacks Consensus Estimate and our model estimate of $182 million each. Naglazyme sales rose 12% year over year to $110 million. Brineura added sales of $48 million, which rose 9% year over year. Sales of these drugs were driven by new patient starts and continued efforts to ensure treatment continuity for existing patients.
Product revenues from Aldurazyme totaled $39 million, down 9% year over year, likely due to the unfavorable timing of order fulfillment to Sanofi (SNY - Free Report) .
BioMarin signed a collaboration agreement with Sanofi’s subsidiary, Genzyme, for Aldurazyme. Sanofi, through Genzyme, is BMRN’s sole customer for Aldurazyme. The Sanofi subsidiary is responsible for marketing and selling Aldurazyme to third parties.
Other Revenues
New gene therapy, Roctavian, generated $11 million in sales compared with $3 million in the year-ago period. Sales likely rose as part of the company’s updated strategy to focus on three prioritized countries — the United States, Germany and Italy.
In the phenylketonuria franchise, Kuvan revenues declined 24% to $28 million due to generic competition. The drug lost U.S. market exclusivity in late 2020.
Full-Year 2024 Results
BioMarin reported total revenues of $2.85 billion, up 18% year over year on a reported basis and 22% on a constant-currency basis.
The company’s reported earnings for 2024 were $3.52 per share, up 69% from the year-ago period’s level.
BMRN’s 2025 Outlook Encouraging
For 2025, BioMarin expects to record total revenues in the range of $3.1-$3.2 billion, implying an increase of around 10% year over year at the midpoint. The Zacks Consensus Estimate is pegged at around $3.07 billion. Management reiterated its target to achieve $4 billion in total revenues by 2027.
Management expects Voxzogo to be a significant contributor to the top line. It anticipates the drug’s sales to be in the range of $900-$950 million. Based on the encouraging uptake for Voxzogo, BioMarin expects the drug’s sales to witness a compound annual growth rate (CAGR) of more than 25% during 2023-2027.
Adjusted operating margin is expected to be between 32% and 33%.
BioMarin expects adjusted earnings per share to be in the range of $4.20-$4.40, suggesting 22% growth over last year’s level at the midpoint. The Zacks Consensus Estimate is pinned at $4.01.
Shares of BioMarin rose more than 9% in after-market trading on Wednesday, likely due to the encouraging guidance. Year to date, the stock has underperformed the industry.
Image Source: Zacks Investment Research
BMRN’s Recent Pipeline Updates
BioMarin is actively enrolling patients in a pivotal registrational program on Voxzogo in patients with hypochondroplasia, a condition characterized by impaired bone growth. Management has also advanced the drug in clinical studies for four other short-stature pathway conditions — idiopathic short stature, Noonan Syndrome, Turner Syndrome and SHOX deficiency. Enrollment in all these programs is currently ongoing.
The company expects to report data from a late-stage study evaluating Palynziq for PKU in adolescents in the second half of 2025. If data from this study is positive, management will target regulatory filings for the drug in the United States by late 2025 and in ex-U.S. territories by early 2026.
Before this year’s end, management also expects to report initial proof-of-concept data from an early-stage study on BMN 351, a next-generation oligonucleotide for Duchenne muscular dystrophy.
BMRN’s Zacks Rank
BioMarin currently carries a Zacks Rank #2 (Buy).
BioMarin Pharmaceutical Inc. Price
BioMarin Pharmaceutical Inc. price | BioMarin Pharmaceutical Inc. Quote
Other Key Picks Among Biotech Stocks
A couple of other top-ranked stocks are argenx (ARGX - Free Report) and Day One Biopharmaceuticals (DAWN - Free Report) , each carrying a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Estimates for argenx’s 2025 earnings per share (EPS) have increased from $2.07 to $3.13 over the past 60 days, while the same for 2026 has increased from $9.07 to $10.85. ARGX’s shares have gained 4% year to date.
argenx's earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average surprise of 339.37%.
Estimates for Day One Biopharmaceuticals’ loss per share have narrowed from 88 cents to 72 cents for 2025, while that for 2026 have improved from 99 cents to 97 cents. DAWN’s shares have lost 7% year to date.
Day One’s earnings beat estimates in two of the trailing four quarters and missed in the other two, delivering an average surprise of 90.70%.