SAN RAFAEL, Calif. (AP) — SAN RAFAEL, Calif. (AP) — BioMarin Pharmaceutical Inc. (BMRN) on Monday reported second-quarter profit of $107.2 million.
The San Rafael, California-based company said it had net income of 55 cents per share. Earnings, adjusted for one-time gains and costs, were 96 cents per share.
The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.
The rare disease biopharmaceutical posted revenue of $712 million in the period, also beating Street forecasts. Nine analysts surveyed by Zacks expected $660.5 million.
BioMarin expects full-year earnings in the range of $3.10 to $3.25 per share.
BioMarin shares have dropped 17% since the beginning of the year. In the final minutes of trading on Monday, shares hit $80.41, a fall of slightly more than 8% in the last 12 months.
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