Churchill Downs "CHDN reported a profit for its 1Q, a period which has historically produced a net loss due to the seasonality of live racing," Hilliard Lyons analysts wrote in a May 8 report. "However, an effective diversification strategy begun by management several years ago has lessened the weighted contribution of the racing segment by adding profitable (and growing) income streams from gaming and online wagering. We view the generation of a 1Q profit as a landmark achievement for CHDN and not a one-time anomaly." Shares of Churchill Downs hit a 52-week high of $63.18 on Wednesday. The stock's 52-week low of $36.67 was set on Sept. 30. Churchill Downs' forward P/E is 18.18; the average for gambling companies is 13.96. For comparison, International Game Technology ( IGT) has a lower forward P/E of 12.17. All five of the analysts who cover Churchill Downs rated it buy. The stock has risen 20.3% year to date.
BioMarin Pharmaceutical "BioMarin ended the quarter with total revenue of $116.2 million, in‐line enough with consensus of $118.8 million," Brean Murray Carret analysts wrote in an April 27 report. "Naglazyme revenue was $68 million, beating consensus of $60 million, primarily because of the Brazilian order that continues to be in the first quarter versus the fourth of the prior year. Kuvan sales were $32 million, which just beat consensus of $31 million. Aldurazyme worldwide net revenue was $45.9 million, with BioMarin only receiving $12 million, due to negative product transfer revenue of $6.4 million that will reverse in 2H12. The 1Q12 diluted GAAP EPS was $(0.21), which missed consensus of $(0.15), primarily due to higher than expected R&D expenses of $73.8 million, which was mainly due to GALNS manufacturing expenses and additional patients in the GALNS trial, all of which reflects physician optimism for the trial. The company ended 1Q12 with $288 million in cash and investments." Shares of BioMarin hit a 52-week high on Wednesday of $39.20. The stock's 52-week low of $23.74 was set on Aug. 8. Fourteen of the 18 analysts who cover BioMarin rated it buy; four analysts gave the stock a hold rating. The stock has risen 11.98% year to date.