George Eric Davis Sells 1,850 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Stock

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) EVP George Eric Davis sold 1,850 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $85.01, for a total value of $157,268.50. Following the completion of the sale, the executive vice president now owns 56,157 shares of the company’s stock, valued at $4,773,906.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

George Eric Davis also recently made the following trade(s):

• On Thursday, March 28th, George Eric Davis sold 24,602 shares of BioMarin Pharmaceutical stock. The stock was sold at an average price of $88.34, for a total transaction of $2,173,340.68.

BioMarin Pharmaceutical Price Performance

BMRN opened at $82.58 on Wednesday. The company has a current ratio of 2.74, a quick ratio of 1.70 and a debt-to-equity ratio of 0.12. BioMarin Pharmaceutical Inc. has a 1 year low of $76.02 and a 1 year high of $99.56. The stock has a fifty day moving average price of $86.56 and a 200 day moving average price of $89.02. The stock has a market cap of $15.68 billion, a price-to-earnings ratio of 77.18, a PEG ratio of 1.30 and a beta of 0.34.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Thursday, February 22nd. The biotechnology company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.44 by $0.05. The business had revenue of $646.21 million during the quarter, compared to analysts’ expectations of $639.53 million. BioMarin Pharmaceutical had a return on equity of 5.34% and a net margin of 8.31%. The firm’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.11 EPS. Analysts forecast that BioMarin Pharmaceutical Inc. will post 1.98 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Stratos Wealth Partners LTD. increased its position in BioMarin Pharmaceutical by 2.1% during the fourth quarter. Stratos Wealth Partners LTD. now owns 5,709 shares of the biotechnology company’s stock worth $550,000 after buying an additional 115 shares during the last quarter. KB Financial Partners LLC increased its holdings in shares of BioMarin Pharmaceutical by 51.3% during the 3rd quarter. KB Financial Partners LLC now owns 348 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 118 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in shares of BioMarin Pharmaceutical by 1.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 10,668 shares of the biotechnology company’s stock valued at $932,000 after acquiring an additional 130 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in BioMarin Pharmaceutical by 33.3% in the 4th quarter. First Horizon Advisors Inc. now owns 576 shares of the biotechnology company’s stock worth $56,000 after purchasing an additional 144 shares during the last quarter. Finally, Atria Wealth Solutions Inc. boosted its position in BioMarin Pharmaceutical by 1.6% during the fourth quarter. Atria Wealth Solutions Inc. now owns 9,729 shares of the biotechnology company’s stock worth $938,000 after purchasing an additional 153 shares during the period. Institutional investors own 98.71% of the company’s stock.

Wall Street Analyst Weigh In

BMRN has been the topic of several recent research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $100.00 price objective on shares of BioMarin Pharmaceutical in a research note on Friday, February 23rd. Morgan Stanley cut their price objective on BioMarin Pharmaceutical from $115.00 to $112.00 and set an “overweight” rating for the company in a research report on Friday, April 26th. Cantor Fitzgerald restated an “overweight” rating and issued a $110.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, April 25th. Canaccord Genuity Group decreased their price target on BioMarin Pharmaceutical from $91.00 to $89.00 and set a “hold” rating for the company in a research report on Friday, April 26th. Finally, Scotiabank boosted their price objective on BioMarin Pharmaceutical from $83.00 to $85.00 and gave the stock a “sector perform” rating in a report on Thursday, April 25th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and a consensus target price of $107.50.

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.