Why BioMarin Pharmaceutical Stock Zoomed Almost 5% Higher Today
BioMarin Pharmaceutical (NASDAQ: BMRN) was a lively stock in the best way on Thursday following the release of its latest set of quarterly results. Enthusiastic investors traded the company's shares up by nearly 5% in price, contrasting quite sharply with the 0.4% decline of the S&P 500 index on the day.Those results were published just after market hours on Wednesday, and they showed that the company's revenue reached $747 million for its fourth quarter of 2024. That was a beefy (16%) increase over the same period of the previous year. More impressively, non-GAAP (adjusted) net income nearly doubled, coming in at $180 million ($0.92 per share) against the year-ago profit of $95 million. Both headline numbers obliterated analyst estimates. Collectively, pundits tracking BioMarin's stock were estimating the company would earn a bit over $711 million and post an adjusted net income of only $0.55. Continue reading
BioMarin Pharmaceutical (NASDAQ: BMRN) was a lively stock in the best way on Thursday following the release of its latest set of quarterly results. Enthusiastic investors traded the company's shares up by nearly 5% in price, contrasting quite sharply with the 0.4% decline of the S&P 500 index on the day.
Those results were published just after market hours on Wednesday, and they showed that the company's revenue reached $747 million for its fourth quarter of 2024. That was a beefy (16%) increase over the same period of the previous year. More impressively, non-GAAP (adjusted) net income nearly doubled, coming in at $180 million ($0.92 per share) against the year-ago profit of $95 million.
Both headline numbers obliterated analyst estimates. Collectively, pundits tracking BioMarin's stock were estimating the company would earn a bit over $711 million and post an adjusted net income of only $0.55.
