BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) CAO Sells $91,902.72 in Stock

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) CAO Erin Burkhart sold 1,344 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $68.38, for a total transaction of $91,902.72. Following the sale, the chief accounting officer now owns 13,105 shares of the company’s stock, valued at $896,119.90. This trade represents a 9.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

BioMarin Pharmaceutical Trading Up 3.1 %

Shares of BMRN stock traded up $2.17 during mid-day trading on Tuesday, reaching $71.17. The stock had a trading volume of 2,080,098 shares, compared to its average volume of 1,630,117. The stock’s 50-day moving average price is $65.03 and its two-hundred day moving average price is $70.48. BioMarin Pharmaceutical Inc. has a 52-week low of $60.63 and a 52-week high of $94.85. The firm has a market capitalization of $13.56 billion, a PE ratio of 32.35, a price-to-earnings-growth ratio of 0.61 and a beta of 0.28. The company has a current ratio of 5.33, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.18. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. The firm had revenue of $747.31 million for the quarter, compared to analysts’ expectations of $711.05 million. Equities analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on BMRN. StockNews.com upgraded shares of BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a report on Saturday. JPMorgan Chase & Co. cut their price objective on shares of BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Piper Sandler boosted their target price on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Wolfe Research started coverage on BioMarin Pharmaceutical in a report on Friday, November 15th. They issued an “outperform” rating and a $95.00 price target for the company. Finally, Robert W. Baird decreased their price objective on BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and an average target price of $94.00.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Several hedge funds have recently bought and sold shares of BMRN. Creative Planning boosted its stake in BioMarin Pharmaceutical by 20.9% during the third quarter. Creative Planning now owns 14,300 shares of the biotechnology company’s stock worth $1,005,000 after acquiring an additional 2,475 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of BioMarin Pharmaceutical by 504.9% in the third quarter. Blue Trust Inc. now owns 859 shares of the biotechnology company’s stock worth $60,000 after buying an additional 717 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of BioMarin Pharmaceutical in the third quarter worth approximately $279,000. International Assets Investment Management LLC bought a new position in shares of BioMarin Pharmaceutical in the third quarter worth approximately $12,940,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of BioMarin Pharmaceutical by 16.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,404 shares of the biotechnology company’s stock worth $593,000 after buying an additional 1,167 shares in the last quarter. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Company Profile

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.