SAN RAFAEL, Calif. (AP) — SAN RAFAEL, Calif. (AP) — BioMarin Pharmaceutical Inc. (BMRN) on Tuesday reported third-quarter earnings of $106.1 million.
The San Rafael, California-based company said it had profit of 55 cents per share. Earnings, adjusted for one-time gains and costs, were 91 cents per share.
The results beat Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share.
The rare disease biopharmaceutical posted revenue of $745.7 million in the period, also topping Street forecasts. Eleven analysts surveyed by Zacks expected $707 million.
BioMarin expects full-year earnings in the range of $3.25 to $3.35 per share, with revenue in the range of $2.79 billion to $2.83 billion.
BioMarin shares have dropped 28% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $69.79, a decline of 14% in the last 12 months.
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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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