Insider Selling: BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Director Sells $1,825,200.00 in Stock

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Director Jean Jacques Bienaime sold 20,000 shares of the firm’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $91.26, for a total transaction of $1,825,200.00. Following the transaction, the director now owns 474,994 shares of the company’s stock, valued at approximately $43,347,952.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Jean Jacques Bienaime also recently made the following trade(s):

• On Tuesday, March 5th, Jean Jacques Bienaime sold 1,000 shares of BioMarin Pharmaceutical stock. The stock was sold at an average price of $85.51, for a total transaction of $85,510.00.
• On Tuesday, February 27th, Jean Jacques Bienaime sold 1,000 shares of BioMarin Pharmaceutical stock. The stock was sold at an average price of $90.35, for a total transaction of $90,350.00.
• On Friday, February 9th, Jean Jacques Bienaime sold 15,000 shares of BioMarin Pharmaceutical stock. The stock was sold at an average price of $88.28, for a total transaction of $1,324,200.00.

BioMarin Pharmaceutical Price Performance

BMRN opened at $90.47 on Thursday. The company has a fifty day moving average price of $87.57 and a two-hundred day moving average price of $89.11. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.57 and a current ratio of 2.51. BioMarin Pharmaceutical Inc. has a 52 week low of $76.02 and a 52 week high of $100.31. The firm has a market capitalization of $17.07 billion, a PE ratio of 102.81, a P/E/G ratio of 1.69 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Thursday, February 22nd. The biotechnology company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.05. BioMarin Pharmaceutical had a net margin of 6.93% and a return on equity of 5.01%. The firm had revenue of $646.21 million during the quarter, compared to analyst estimates of $639.53 million. During the same quarter in the previous year, the business earned $0.11 EPS. The business’s quarterly revenue was up 20.2% compared to the same quarter last year. As a group, analysts anticipate that BioMarin Pharmaceutical Inc. will post 1.85 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have commented on BMRN shares. Stifel Nicolaus restated a “buy” rating and set a $101.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, December 21st. Robert W. Baird cut their target price on shares of BioMarin Pharmaceutical from $127.00 to $104.00 and set an “outperform” rating for the company in a research note on Tuesday, January 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $100.00 target price on shares of BioMarin Pharmaceutical in a research note on Friday, February 23rd. Canaccord Genuity Group reiterated a “hold” rating and issued a $91.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 29th. Finally, Piper Sandler cut their target price on shares of BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating for the company in a research note on Friday, February 23rd. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $107.61.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in BioMarin Pharmaceutical by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 18,050,062 shares of the biotechnology company’s stock valued at $1,740,387,000 after acquiring an additional 348,852 shares in the last quarter. Capital Research Global Investors lifted its position in BioMarin Pharmaceutical by 79.0% during the 4th quarter. Capital Research Global Investors now owns 10,774,641 shares of the biotechnology company’s stock worth $1,038,907,000 after buying an additional 4,756,671 shares in the last quarter. Barclays PLC lifted its position in BioMarin Pharmaceutical by 31.6% during the 3rd quarter. Barclays PLC now owns 5,573,157 shares of the biotechnology company’s stock worth $493,111,000 after buying an additional 1,336,886 shares in the last quarter. Ameriprise Financial Inc. lifted its position in BioMarin Pharmaceutical by 5.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,163,949 shares of the biotechnology company’s stock worth $456,906,000 after buying an additional 275,436 shares in the last quarter. Finally, Viking Global Investors LP raised its holdings in shares of BioMarin Pharmaceutical by 16.0% in the 4th quarter. Viking Global Investors LP now owns 4,889,454 shares of the biotechnology company’s stock valued at $471,441,000 after purchasing an additional 673,998 shares during the period. Institutional investors and hedge funds own 98.71% of the company’s stock.

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.