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 stock in a transaction that occurred on Monday, February 24th. The shares were 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 in the company, valued at approximately $896,119.90. This trade represents a 9.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ BMRN traded up $2.17 during midday 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 has a 50-day moving average of $65.03 and a 200-day moving average of $70.48. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 5.33. The company has a market capitalization of $13.56 billion, a price-to-earnings ratio of 32.35, a price-to-earnings-growth ratio of 0.61 and a beta of 0.28. BioMarin Pharmaceutical Inc. 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 during the quarter, compared to analysts’ expectations of $711.05 million. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. As a group, research analysts anticipate that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current fiscal year.

Hedge Funds Weigh In On BioMarin Pharmaceutical

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

Analyst Ratings Changes

BMRN has been the topic of a number of research analyst reports. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Wolfe Research initiated coverage on shares of BioMarin Pharmaceutical in a research report on Friday, November 15th. They set an “outperform” rating and a $95.00 price objective on the stock. UBS Group increased their price objective 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. Evercore ISI lowered their price objective on shares of BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Finally, William Blair downgraded shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $94.00.

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.