BioMarin Pharmaceutical Target of Unusually High Options Trading (NASDAQ:BMRN)

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) was the recipient of unusually large options trading activity on Thursday. Stock traders acquired 5,111 call options on the company. This represents an increase of 273% compared to the typical daily volume of 1,372 call options.

Analyst Ratings Changes

BMRN has been the subject of several research analyst reports. Bank of America upped their target price on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Oppenheimer raised BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 target price for the company in a research report on Monday, February 24th. Scotiabank boosted their price objective on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, February 20th. Piper Sandler raised their target price on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Finally, UBS Group upped their price target on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Seven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.00.

Insider Buying and Selling

In other news, CAO Erin Burkhart sold 1,295 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $71.52, for a total value of $92,618.40. Following the transaction, the chief accounting officer now owns 16,955 shares in the company, valued at approximately $1,212,621.60. This represents a 7.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.85% of the company’s stock.

Hedge Funds Weigh In On BioMarin Pharmaceutical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. LRI Investments LLC raised its position in shares of BioMarin Pharmaceutical by 856.9% during the 4th quarter. LRI Investments LLC now owns 488 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 437 shares during the last quarter. TD Private Client Wealth LLC raised its holdings in shares of BioMarin Pharmaceutical by 57.4% in the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock worth $36,000 after acquiring an additional 186 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of BioMarin Pharmaceutical in the fourth quarter valued at $36,000. CIBC Private Wealth Group LLC boosted its stake in shares of BioMarin Pharmaceutical by 64.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company’s stock valued at $41,000 after acquiring an additional 233 shares during the last quarter. Finally, True Wealth Design LLC increased its position in BioMarin Pharmaceutical by 13,400.0% during the 3rd quarter. True Wealth Design LLC now owns 810 shares of the biotechnology company’s stock worth $57,000 after purchasing an additional 804 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ:BMRN traded up $0.91 during trading on Thursday, hitting $72.39. 424,950 shares of the stock were exchanged, compared to its average volume of 1,781,823. The company has a market cap of $13.81 billion, a PE ratio of 32.96, a P/E/G ratio of 0.61 and a beta of 0.33. The company has a current ratio of 5.33, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. The company has a fifty day moving average price of $67.03 and a two-hundred day moving average price of $67.81. BioMarin Pharmaceutical has a 12-month low of $60.63 and a 12-month high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.18. The company had revenue of $747.31 million for the quarter, compared to analyst estimates of $711.05 million. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. On average, analysts forecast that BioMarin Pharmaceutical will post 3.15 EPS for the current year.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.