SAN RAFAEL, Calif. (AP) — SAN RAFAEL, Calif. (AP) — BioMarin Pharmaceutical Inc. (BMRN) on Wednesday reported first-quarter earnings of $50.9 million.
The San Rafael, California-based company said it had profit of 27 cents per share. Earnings, adjusted for one-time gains and costs, were 60 cents per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.
The rare disease biopharmaceutical posted revenue of $596.4 million in the period, which also topped Street forecasts. Eleven analysts surveyed by Zacks expected $572.5 million.
BioMarin expects full-year earnings in the range of $1.80 to $2.05 per share, with revenue in the range of $2.38 billion to $2.5 billion.
BioMarin shares have declined 10% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $93, a climb of 17% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BMRN at https://www.zacks.com/ap/BMRN
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