Insider Selling: BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) CFO Sells 11,800 Shares of Stock

BioMarin Pharmaceutical Inc. (NASDAQ:BMRNGet Rating) CFO Brian Mueller sold 11,800 shares of the firm’s stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $84.50, for a total value of $997,100.00. Following the completion of the sale, the chief financial officer now directly owns 38,639 shares in the company, valued at $3,264,995.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of BMRN stock opened at $79.26 on Friday. The firm has a fifty day moving average of $80.24 and a 200-day moving average of $83.57. The stock has a market cap of $14.66 billion, a price-to-earnings ratio of 440.33, a P/E/G ratio of 1.78 and a beta of 0.41. BioMarin Pharmaceutical Inc. has a 52-week low of $71.59 and a 52-week high of $94.20. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.77 and a current ratio of 4.88.

BioMarin Pharmaceutical (NASDAQ:BMRNGet Rating) last posted its earnings results on Wednesday, April 27th. The biotechnology company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.48. BioMarin Pharmaceutical had a net margin of 2.09% and a return on equity of 1.36%. During the same period in the previous year, the company earned $0.29 EPS. On average, sell-side analysts predict that BioMarin Pharmaceutical Inc. will post 0.94 earnings per share for the current year.

Several analysts recently weighed in on the company. Morgan Stanley upgraded BioMarin Pharmaceutical from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $96.00 to $113.00 in a research note on Monday, April 25th. Jefferies Financial Group reissued a “buy” rating and issued a $100.00 price objective on shares of BioMarin Pharmaceutical in a research report on Wednesday. Piper Sandler raised their price objective on shares of BioMarin Pharmaceutical from $121.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, February 24th. Truist Financial upped their target price on shares of BioMarin Pharmaceutical from $125.00 to $135.00 in a research note on Monday, January 10th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $96.00 price target on shares of BioMarin Pharmaceutical in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, BioMarin Pharmaceutical presently has a consensus rating of “Buy” and an average price target of $111.93.

Several institutional investors and hedge funds have recently modified their holdings of BMRN. Teacher Retirement System of Texas increased its position in shares of BioMarin Pharmaceutical by 94.1% during the 3rd quarter. Teacher Retirement System of Texas now owns 45,657 shares of the biotechnology company’s stock worth $3,529,000 after purchasing an additional 22,131 shares in the last quarter. Dupont Capital Management Corp bought a new stake in BioMarin Pharmaceutical during the fourth quarter worth about $113,000. Fort Washington Investment Advisors Inc. OH increased its holdings in shares of BioMarin Pharmaceutical by 93.2% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 1,143,631 shares of the biotechnology company’s stock worth $101,040,000 after buying an additional 551,729 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of BioMarin Pharmaceutical by 8.9% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 3,513 shares of the biotechnology company’s stock valued at $310,000 after acquiring an additional 286 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in shares of BioMarin Pharmaceutical by 3.3% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 19,364 shares of the biotechnology company’s stock worth $1,711,000 after acquiring an additional 615 shares in the last quarter. 95.45% of the stock is owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Company Profile (Get Rating)

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.

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Insider Buying and Selling by Quarter for BioMarin Pharmaceutical (NASDAQ:BMRN)

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