NasdaqGS:BMRNBiotechs
BioMarin (BMRN) Stock Gains On Higher Outlook Despite Profit Drop
BioMarin Pharmaceutical stock closed up 3.7% at US$63.75, which indicates the market responded positively to the news. The question is whether that move really reflects what just happened in the quarter. Revenue was approximately US$989.7m in Q2 while basic earnings per share came in at US$0.23, and management raised full year guidance for both sales and non generally accepted accounting principles earnings per share.
In short, traders were willing to pay more for BioMarin Pharmaceutical...