What Happened?
Shares of biotech company BioMarin Pharmaceutical (NASDAQ:BMRN) jumped 9.6% in the pre-market session after the company reported impressive fourth-quarter results, exceeding analysts' sales and EPS estimates. Total revenue grew 16% y/y fueled by strong demand for Voxzogo, which saw a 42% jump in sales, and a steady 9% increase in its Enzyme Therapies segment. Improved profitability also played a key role, with GAAP net income soaring more than fivefold. Looking ahead, management expects another year of double-digit revenue and earnings growth in 2025, with a projected 10% increase in total revenue at the midpoint of guidance. Overall, the quarter reflected strong execution, with standout performances in key growth areas and clear momentum heading into the first half of 2025.
After the initial pop the shares cooled down to $68.81, up 4.8% from previous close.
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What The Market Is Telling Us
BioMarin Pharmaceutical’s shares are not very volatile and have only had 5 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.
BioMarin Pharmaceutical is up 3.5% since the beginning of the year, but at $68.81 per share, it is still trading 26.7% below its 52-week high of $93.84 from August 2024. Investors who bought $1,000 worth of BioMarin Pharmaceutical’s shares 5 years ago would now be looking at an investment worth $767.40.
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