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 transaction, the chief accounting officer now owns 13,105 shares of the company’s stock, valued at approximately $896,119.90. This represents a 9.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

BioMarin Pharmaceutical Stock Performance

NASDAQ BMRN opened at $69.12 on Friday. The company has a market capitalization of $13.17 billion, a P/E ratio of 31.42, a P/E/G ratio of 0.61 and a beta of 0.28. The firm has a 50-day moving average price of $65.19 and a two-hundred day moving average price of $70.46. BioMarin Pharmaceutical Inc. has a 12-month low of $60.63 and a 12-month high of $94.85. The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11.

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BMRN shares. UBS Group raised their price target on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Wedbush reaffirmed an “outperform” rating and issued a $94.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Scotiabank upped their price objective on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 20th. Wolfe Research assumed coverage on shares of BioMarin Pharmaceutical in a report on Friday, November 15th. They set an “outperform” rating and a $95.00 target price for the company. Finally, Bank of America raised their price target on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and an average price target of $94.00.

Hedge Funds Weigh In On BioMarin Pharmaceutical

A number of institutional investors have recently modified their holdings of the business. Polar Asset Management Partners Inc. bought a new position in shares of BioMarin Pharmaceutical in the 4th quarter valued at $979,000. Mackenzie Financial Corp increased its holdings in BioMarin Pharmaceutical by 203.4% in the 4th quarter. Mackenzie Financial Corp now owns 220,661 shares of the biotechnology company’s stock worth $14,504,000 after purchasing an additional 147,927 shares in the last quarter. Forum Financial Management LP bought a new position in BioMarin Pharmaceutical in the 4th quarter valued at approximately $298,000. Toronto Dominion Bank raised its stake in shares of BioMarin Pharmaceutical by 3.8% during the fourth quarter. Toronto Dominion Bank now owns 24,862 shares of the biotechnology company’s stock valued at $1,634,000 after acquiring an additional 920 shares during the last quarter. Finally, GF Fund Management CO. LTD. bought a new stake in shares of BioMarin Pharmaceutical in the fourth quarter worth $263,000. Institutional investors and hedge funds 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.