BioMarin Pharmaceutical (NASDAQ:BMRN) Sets New 1-Year Low Following Insider Selling

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) shares reached a new 52-week low during mid-day trading on Friday following insider selling activity. The company traded as low as $64.56 and last traded at $64.88, with a volume of 74320 shares changing hands. The stock had previously closed at $65.60.

Specifically, EVP Charles Greg Guyer sold 5,278 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total transaction of $350,300.86. Following the sale, the executive vice president now directly owns 68,909 shares in the company, valued at approximately $4,573,490.33. The trade was a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analyst Weigh In

BMRN has been the topic of several recent research reports. Wolfe Research started coverage on BioMarin Pharmaceutical in a research report on Friday. They issued an “outperform” rating and a $95.00 price objective on the stock. Stifel Nicolaus decreased their price target on shares of BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Cantor Fitzgerald cut their price objective on shares of BioMarin Pharmaceutical from $110.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Canaccord Genuity Group decreased their target price on shares of BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a research report on Wednesday, October 30th. Finally, Sanford C. Bernstein cut their price target on BioMarin Pharmaceutical from $116.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, September 17th. Seven research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $94.20.

BioMarin Pharmaceutical Trading Down 3.3 %

The stock has a market capitalization of $12.09 billion, a PE ratio of 38.85, a PEG ratio of 0.66 and a beta of 0.31. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. The business’s 50-day moving average is $70.85 and its two-hundred day moving average is $79.28.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.23). The company had revenue of $746.00 million for the quarter, compared to analysts’ expectations of $703.37 million. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The business’s quarterly revenue was up 28.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.26 earnings per share. On average, analysts predict that BioMarin Pharmaceutical Inc. will post 2.47 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Quent Capital LLC raised its holdings in BioMarin Pharmaceutical by 58.9% in the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 145 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of BioMarin Pharmaceutical by 0.8% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 21,105 shares of the biotechnology company’s stock valued at $1,483,000 after purchasing an additional 173 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of BioMarin Pharmaceutical by 1.6% during the third quarter. Advisors Asset Management Inc. now owns 11,451 shares of the biotechnology company’s stock worth $805,000 after purchasing an additional 180 shares during the last quarter. Voisard Asset Management Group Inc. grew its stake in BioMarin Pharmaceutical by 17.8% in the third quarter. Voisard Asset Management Group Inc. now owns 1,355 shares of the biotechnology company’s stock worth $95,000 after purchasing an additional 205 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in BioMarin Pharmaceutical by 56.1% during the third quarter. GAMMA Investing LLC now owns 782 shares of the biotechnology company’s stock valued at $55,000 after buying an additional 281 shares in the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

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.