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BioMarin reported Q1 EPS of 76 cents, missing estimates, while revenue rose 3% to $766.2M.
BMRN earnings fell 33% due to a $31M charge and higher costs tied to the Amicus acquisition.
BioMarin raised its 2026 revenue outlook to $3.83-$3.93B, reflecting contributions from new therapies.
BioMarin Pharmaceutical (BMRN - Free Report) reported first-quarter 2026 adjusted earnings per share of 76 cents, missing the Zacks Consensus Estimate of 94 cents. However, earnings declined 33% year over year. This was largely due to a $31 million charge tied to the company’s unsuccessful campaign to extend Naglazyme manufacturing capabilities, as well as higher operating expenses associated with the acquisition of Amicus Therapeutics.
Total revenues in the first quarter were $766.2 million, up 3% year over year. The figure beat the Zacks Consensus Estimate of $762.4 million.
BMRN Stock Movement
Shares of BioMarin were down in after-hours trading on Monday, likely due to the mixed earnings results.
Year to date, the stock has lost about 7% compared with the industry’s 2% decline.
Image Source: Zacks Investment Research
More on BMRN’s Earnings
Net product revenues totaled nearly $760.1 million, up 3.5% year over year on higher revenues from the company’s Enzyme Therapies, as well as Voxzogo.
Royalty and other revenues totaled $6.1 million, down about 42% year over year.
Voxzogo, approved for achondroplasia, generated sales of $220 million, up 3% year over year. Per the company, this modest upside was expected, as it had previously experienced large orders for the drug in the fourth quarter of 2025. Despite this, Voxzogo sales beat the Zacks Consensus Estimate of $216 million.
BioMarin reports consolidated revenues from five products — Aldurazyme, Brineura, Naglazyme, Palynziq and Vimizim — under a single segment, “Enzyme Therapies.” Sales from this franchise increased 6% year over year to $514 million in the reported quarter, driven by higher product sales of Vimizim, Naglazyme and Brineura.
Palynziq injection sales totaled $90 million in the quarter, down 3% year over year, impacted by order timing in the United States. The drug’s sales missed the Zacks Consensus Estimate of $112 million.
Vimizim sales rose 12% year over year to $210 million, which beat the Zacks Consensus Estimate of $194 million.
Naglazyme sales increased 14% year over year to $130 million. Brineura generated sales of $47 million, up 18%.
Product revenues from Aldurazyme totaled $37 million, down 24% year over year.
BioMarin signed a collaboration agreement with Sanofi’s (SNY - Free Report) subsidiary, Genzyme, for Aldurazyme. SNY, through Genzyme, is BMRN’s sole customer for Aldurazyme. The Sanofi subsidiary is responsible for marketing and selling Aldurazyme to third parties.
Other Revenues
The gene therapy Roctavian generated $3 million in sales compared with $11 million in the year-ago period. This downside is attributable to the company’s decision to voluntarily withdraw the product from the market.
In the phenylketonuria (PKU) franchise, Kuvan revenues declined 4% to $24 million due to generic competition. The drug lost U.S. market exclusivity in late 2020.
BMRN’s 2026 Outlook
Last week, BioMarin announced that it completed the acquisition of Amicus Therapeutics for $4.8 billion. Post-acquisition, the company added two marketed therapies — Galafold (for Fabry disease) and Pombiliti-Opfolda (a combination therapy for Pompe disease) — which will form part of the Enzyme Therapies segment.
BMRN now expects to record total revenues in the range of $3.83-$3.93 billion in 2026, up from the previous guidance of $3.33-$3.43 billion. This new guidance, which includes contributions from Amicus’ marketed drugs, suggests growth of 20% at the mid-point of the range. Management expects to generate more than 55% of the overall 2026 revenues in the second half of the year.
While BioMarin reiterated its Voxzogo sales guidance to be in the range of $975 million to $1.03 billion, it now expects enzyme therapies revenues to be between $2.73 billion and $2.78 billion (previously: $2.23-$2.28 billion). Despite the decline in first-quarter sales, BMRN expects Palynziq sales to increase in 2026, primarily boosted by the drug’s recent approval in adolescents with PKU.
Since the company has accounted for the Amicus Therapeutics acquisition as a business combination, it will result in intangible amortization impacting GAAP results over future periods and will be excluded from non-GAAP results. However, both these results will be impacted by interest expense related to the Amicus financing.
BioMarin has revised its adjusted earnings per share (EPS) to be in the range of $4.85-$5.05 for the year, down from the previous guidance of $4.95-$5.15. While the company expects about two-thirds of this figure to be recognized in the second half of the year, it projects the adjusted EPS in the second quarter to be modestly higher than in the first quarter.
BMRN’s Recent Pipeline Updates
BioMarin continues to advance its CANOPY clinical program, which evaluates Voxzogo in a phase III study for a potential second indication — hypochondroplasia, a condition characterized by impaired bone growth. Data from this study is expected in the second quarter of 2026, while regulatory submissions are expected thereafter in the second half of 2026 (provided the data is supportive).
As part of the CANOPY program, BMRN is also evaluating Voxzogo in separate phase II studies for two other short-stature pathway conditions — idiopathic short stature and Noonan Syndrome.
The company also expects to report data in the second quarter of 2026 from another phase III study evaluating BMN 401 for the treatment of a rare genetic disorder called ENPP1 deficiency in children. If this data is supportive, BioMarin intends to start regulatory submissions for the therapy in the second half of the year.
Last month, BMRN enrolled the first patient in a registration-enabling phase II/III study evaluating BMN 333 — a long-acting formulation of CNP — as a potential treatment for multiple growth-related conditions that offers the option for less frequent dosing. An update on this candidate is expected next year.
BMRN’s Zacks Rank
BioMarin currently carries a Zacks Rank #3 (Hold).
Over the past 30 days, estimates for Castle Biosciences’ 2026 loss per share have narrowed from $1.42 to $1.40. Over the same period, loss per share estimates for 2027 have narrowed from 79 cents to 78 cents. CSTL shares have lost 34% year to date.
Castle Biosciences’ earnings beat estimates in three of the trailing four quarters and missed in the remaining one, with the average surprise being 34.69%.
Over the past 30 days, estimates for Catalyst Pharmaceuticals’ 2026 EPS have risen from $2.78 to $2.79. Over the same period, EPS estimates for 2027 have increased from $3.25 to $3.28. CPRX shares have gained 24% year to date.
Catalyst Pharmaceuticals’ earnings beat estimates in each of the trailing four quarters, with the average surprise being 35.19%.
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BioMarin Q1 Earnings Miss, Sales Beat, '26 Revenue Guidance Raised
Key Takeaways
BioMarin Pharmaceutical (BMRN - Free Report) reported first-quarter 2026 adjusted earnings per share of 76 cents, missing the Zacks Consensus Estimate of 94 cents. However, earnings declined 33% year over year. This was largely due to a $31 million charge tied to the company’s unsuccessful campaign to extend Naglazyme manufacturing capabilities, as well as higher operating expenses associated with the acquisition of Amicus Therapeutics.
Total revenues in the first quarter were $766.2 million, up 3% year over year. The figure beat the Zacks Consensus Estimate of $762.4 million.
BMRN Stock Movement
Shares of BioMarin were down in after-hours trading on Monday, likely due to the mixed earnings results.
Year to date, the stock has lost about 7% compared with the industry’s 2% decline.
Image Source: Zacks Investment Research
More on BMRN’s Earnings
Net product revenues totaled nearly $760.1 million, up 3.5% year over year on higher revenues from the company’s Enzyme Therapies, as well as Voxzogo.
Royalty and other revenues totaled $6.1 million, down about 42% year over year.
Voxzogo, approved for achondroplasia, generated sales of $220 million, up 3% year over year. Per the company, this modest upside was expected, as it had previously experienced large orders for the drug in the fourth quarter of 2025. Despite this, Voxzogo sales beat the Zacks Consensus Estimate of $216 million.
BioMarin reports consolidated revenues from five products — Aldurazyme, Brineura, Naglazyme, Palynziq and Vimizim — under a single segment, “Enzyme Therapies.” Sales from this franchise increased 6% year over year to $514 million in the reported quarter, driven by higher product sales of Vimizim, Naglazyme and Brineura.
Palynziq injection sales totaled $90 million in the quarter, down 3% year over year, impacted by order timing in the United States. The drug’s sales missed the Zacks Consensus Estimate of $112 million.
Vimizim sales rose 12% year over year to $210 million, which beat the Zacks Consensus Estimate of $194 million.
Naglazyme sales increased 14% year over year to $130 million. Brineura generated sales of $47 million, up 18%.
Product revenues from Aldurazyme totaled $37 million, down 24% year over year.
BioMarin signed a collaboration agreement with Sanofi’s (SNY - Free Report) subsidiary, Genzyme, for Aldurazyme. SNY, through Genzyme, is BMRN’s sole customer for Aldurazyme. The Sanofi subsidiary is responsible for marketing and selling Aldurazyme to third parties.
Other Revenues
The gene therapy Roctavian generated $3 million in sales compared with $11 million in the year-ago period. This downside is attributable to the company’s decision to voluntarily withdraw the product from the market.
In the phenylketonuria (PKU) franchise, Kuvan revenues declined 4% to $24 million due to generic competition. The drug lost U.S. market exclusivity in late 2020.
BMRN’s 2026 Outlook
Last week, BioMarin announced that it completed the acquisition of Amicus Therapeutics for $4.8 billion. Post-acquisition, the company added two marketed therapies — Galafold (for Fabry disease) and Pombiliti-Opfolda (a combination therapy for Pompe disease) — which will form part of the Enzyme Therapies segment.
BMRN now expects to record total revenues in the range of $3.83-$3.93 billion in 2026, up from the previous guidance of $3.33-$3.43 billion. This new guidance, which includes contributions from Amicus’ marketed drugs, suggests growth of 20% at the mid-point of the range. Management expects to generate more than 55% of the overall 2026 revenues in the second half of the year.
While BioMarin reiterated its Voxzogo sales guidance to be in the range of $975 million to $1.03 billion, it now expects enzyme therapies revenues to be between $2.73 billion and $2.78 billion (previously: $2.23-$2.28 billion). Despite the decline in first-quarter sales, BMRN expects Palynziq sales to increase in 2026, primarily boosted by the drug’s recent approval in adolescents with PKU.
Since the company has accounted for the Amicus Therapeutics acquisition as a business combination, it will result in intangible amortization impacting GAAP results over future periods and will be excluded from non-GAAP results. However, both these results will be impacted by interest expense related to the Amicus financing.
BioMarin has revised its adjusted earnings per share (EPS) to be in the range of $4.85-$5.05 for the year, down from the previous guidance of $4.95-$5.15. While the company expects about two-thirds of this figure to be recognized in the second half of the year, it projects the adjusted EPS in the second quarter to be modestly higher than in the first quarter.
BMRN’s Recent Pipeline Updates
BioMarin continues to advance its CANOPY clinical program, which evaluates Voxzogo in a phase III study for a potential second indication — hypochondroplasia, a condition characterized by impaired bone growth. Data from this study is expected in the second quarter of 2026, while regulatory submissions are expected thereafter in the second half of 2026 (provided the data is supportive).
As part of the CANOPY program, BMRN is also evaluating Voxzogo in separate phase II studies for two other short-stature pathway conditions — idiopathic short stature and Noonan Syndrome.
The company also expects to report data in the second quarter of 2026 from another phase III study evaluating BMN 401 for the treatment of a rare genetic disorder called ENPP1 deficiency in children. If this data is supportive, BioMarin intends to start regulatory submissions for the therapy in the second half of the year.
Last month, BMRN enrolled the first patient in a registration-enabling phase II/III study evaluating BMN 333 — a long-acting formulation of CNP — as a potential treatment for multiple growth-related conditions that offers the option for less frequent dosing. An update on this candidate is expected next year.
BMRN’s Zacks Rank
BioMarin currently carries a Zacks Rank #3 (Hold).
BioMarin Pharmaceutical Inc. Price
BioMarin Pharmaceutical Inc. price | BioMarin Pharmaceutical Inc. Quote
Stocks to Consider
Some better-ranked stocks include Castle Biosciences (CSTL - Free Report) and Catalyst Pharmaceuticals (CPRX - Free Report) . While CSTL sports a Zacks Rank #1 (Strong Buy) at present, CPRX carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 30 days, estimates for Castle Biosciences’ 2026 loss per share have narrowed from $1.42 to $1.40. Over the same period, loss per share estimates for 2027 have narrowed from 79 cents to 78 cents. CSTL shares have lost 34% year to date.
Castle Biosciences’ earnings beat estimates in three of the trailing four quarters and missed in the remaining one, with the average surprise being 34.69%.
Over the past 30 days, estimates for Catalyst Pharmaceuticals’ 2026 EPS have risen from $2.78 to $2.79. Over the same period, EPS estimates for 2027 have increased from $3.25 to $3.28. CPRX shares have gained 24% year to date.
Catalyst Pharmaceuticals’ earnings beat estimates in each of the trailing four quarters, with the average surprise being 35.19%.