BioMarin Pharmaceutical
BMRN
shares ended the last trading session 5.4% higher at $76.08. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock’s 9% loss over the past four weeks.
BioMarin’s stock has been gaining consistently on the back of its strong fundamentals. Sales of BioMarin’s key drugs are being driven by strong demand. The approval of Voxzogo, a potential blockbuster drug, in 2021 has opened up a key sales opportunity for BioMarin and restored confidence in the stock.
This rare disease biopharmaceutical is expected to post quarterly earnings of $0.40 per share in its upcoming report, which represents a year-over-year change of -24.5%. Revenues are expected to be $515.5 million, up 2.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For BioMarin, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock’s price usually doesn’t keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on BMRN going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see
the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>>
BioMarin is a member of the Zacks Medical – Biomedical and Genetics industry. One other stock in the same industry, Selecta Biosciences, Inc. (SELB), finished the last trading session 7.5% lower at $1.24. SELB has returned 73% over the past month.
For Selecta Biosciences, Inc.
, the consensus EPS estimate for the upcoming report has changed +6.7% over the past month to -$0.07. This represents a change of -75% from what the company reported a year ago. Selecta Biosciences, Inc. currently has a Zacks Rank of #2 (Buy).
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