BioMarin Pharmaceutical BMRN reported second-quarter 2026 adjusted earnings of $1.20 per share, which beat the Zacks Consensus Estimate of 96 cents. However, the bottom line declined 16.7% year over year from $1.44.
Total revenues were $989.7 million, up 20% year over year, beating the Zacks Consensus Estimate of $922 million. Growth was driven by new Amicus-acquired products, Voxzogo patient additions and stronger Palynziq demand.
BMRN Stock Movement
Shares of BioMarin were up 4.4% in after-market trading on Thursday following the earnings announcement. The positive stock reaction came as both earnings and revenues topped expectations and management raised key elements of its 2026 financial guidance.
Year to date, BMRN stock has gained 3.4% compared with the industry’s 3.6% growth.
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More on BioMarin's Q2 Earnings
Net product revenues totaled nearly $984.4 million, up about 21% year over year, driven by higher revenues from the company’s Metabolic Conditions drugs, as well as Voxzogo.
Voxzogo generated $253 million in sales, up 14% year over year from $221 million. Sales also beat the Zacks Consensus Estimate of $238.2 million. The number of children treated globally increased more than 20% year over year.
BioMarin said about 90% of U.S. children treated with Voxzogo remained on therapy through the end of July after a competing product entered the market. More than half of new U.S. patient starts during the quarter were children under two years of age.
BMRN's Metabolic Conditions Performance
Metabolic Conditions revenues totaled $695 million, up 25% year over year. The portfolio now comprises seven therapies, including Galafold and Pombiliti-Opfolda, which were added following the Amicus acquisition.
Palynziq sales jumped 27% to $135 million, topping the Zacks Consensus Estimate of $112.7 million. Naglazyme revenues rose 5% to $135 million, which also came above the consensus estimate of $125.9 million. Brineura sales increased 4% to $51 million.
Vimizim revenues fell 10% to $194 million, reflecting the timing of large government orders outside the United States. Sales missed the Zacks Consensus Estimate of $205.8 million. Aldurazyme sales declined 21% to $44 million due to timing of order fulfillment to Sanofi SNY.
Galafold contributed $106 million following the Amicus acquisition. BioMarin said the therapy maintained broad-based patient growth, supported by increased diagnosis and patient identification. The Sanofi-related Aldurazyme order timing was a separate headwind within the portfolio.
BioMarin signed a collaboration agreement with Sanofi’s subsidiary, Genzyme, for Aldurazyme. SNY, through Genzyme, is BMRN’s sole customer for Aldurazyme. The Sanofi subsidiary is responsible for marketing and selling Aldurazyme to third parties.
BioMarin's Other Revenues
Kuvan generated $24 million in second-quarter sales, down 11% from $27 million a year earlier.
Roctavian revenues were $12 million, up 33% year over year from $9 million.
Royalty and other revenues were $5.3 million compared with $12.4 million in the year-ago quarter.
BMRN Raises 2026 Financial Outlook
BioMarin raised its 2026 total revenue guidance to $3.875-$3.925 billion from $3.825-$3.925 billion. Metabolic Conditions revenue guidance was maintained at $2.725-$2.775 billion.
Voxzogo revenue guidance was increased to $1-$1.05 billion from $975-$1.025 billion. Other revenues are expected to be in the range of $100-$125 million in 2026, unchanged from the previous guidance. Adjusted earnings guidance was raised to $4.90-$5.10 per share from $4.85-$5.05.
BioMarin's Key Updates
BioMarin submitted a supplemental new drug application (NDA) to the FDA seeking approval of Voxzogo for hypochondroplasia after the phase III CANOPY-HCH-3 study met its primary endpoint. The company expects to provide an update on the application status with its third-quarter earnings update.
The FDA also accepted BioMarin's supplemental NDA for full approval of Voxzogo in children with achondroplasia, with a Feb. 28, 2027, target action date. Meanwhile, the company discontinued BMN 401 after the ENERGY 3 study failed to meet one of its two co-primary endpoints for the treatment of ENPP1 deficiency. A data update from the phase II/III study of BMN 333 for achondroplasia is expected in 2027.
In the second quarter, the European Commission approved Palynziq for adolescents aged 12 years and older with phenylketonuria (PKU). The label expansion broadens access to Palynziq, which enables patients with PKU to achieve physiologic phenylalanine levels while reducing dietary restrictions, regardless of disease severity.
BioMarin Pharmaceutical Inc. Price, Consensus and EPS Surprise
BioMarin Pharmaceutical Inc. price-consensus-eps-surprise-chart | BioMarin Pharmaceutical Inc. Quote
Our Take on BMRN’s Q2 Results
BioMarin's quarter showed broad commercial momentum, with Voxzogo growth and the newly acquired Galafold contribution supporting a strong revenue beat. Palynziq and Naglazyme also exceeded expectations, while Vimizim and Aldurazyme faced order-timing pressure.
The raised outlook adds to the positive read-through from the quarter, though product-level volatility remains evident. In particular, Aldurazyme's decline reflected order fulfillment timing to Sanofi, making SNY-related ordering an important factor to watch alongside competitive dynamics in Voxzogo.
BMRN’s Zacks Rank & Stocks to Consider
BioMarin currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the biotech sector are Harmony Biosciences HRMY and Liquidia Corporation LQDA, each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 60 days, estimates for Harmony Biosciences’ 2026 earnings per share have risen from $3.20 to $3.33, while estimates for 2027 have increased from $3.64 to $3.92 during the same time. HRMY shares have gained 3.5% year to date.
Harmony Biosciences’ earnings missed estimates in three of the trailing four quarters and beat on the remaining occasion, delivering an average negative surprise of 13.97%.
Over the past 60 days, estimates for Liquidia’s 2026 earnings per share have risen from $2.97 to $3.02, while estimates for 2027 have increased from $4.81 to $5.31 during the same time. LQDA shares have surged 159.3% year to date.
Liquidia’s earnings beat estimates in three of the trailing four quarters, while missing the same on the remaining occasion, with the average surprise being 54.40%.
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This article originally published on Zacks Investment Research (zacks.com).