Erin Burkhart Sells 1,344 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Stock

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) CAO Erin Burkhart sold 1,344 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $68.38, for a total value of $91,902.72. Following the sale, the chief accounting officer now directly owns 13,105 shares of the company’s stock, valued at $896,119.90. This represents a 9.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

BioMarin Pharmaceutical Stock Up 0.5 %

BioMarin Pharmaceutical stock opened at $69.12 on Friday. The firm has a 50 day moving average price of $65.19 and a 200-day moving average price of $70.46. BioMarin Pharmaceutical Inc. has a twelve month low of $60.63 and a twelve month high of $94.85. 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 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 released its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, beating 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 the consensus estimate of $711.05 million. As a group, equities analysts predict that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current year.

Institutional Trading of BioMarin Pharmaceutical

A number of hedge funds and other institutional investors have recently made changes to their positions in BMRN. LRI Investments LLC boosted its position in shares of BioMarin Pharmaceutical by 856.9% in the fourth quarter. LRI Investments LLC now owns 488 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 437 shares during the period. TD Private Client Wealth LLC grew its position in BioMarin Pharmaceutical by 57.4% in the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock worth $36,000 after acquiring an additional 186 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of BioMarin Pharmaceutical during the 4th quarter valued at about $36,000. CIBC Private Wealth Group LLC grew its position in BioMarin Pharmaceutical by 64.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company’s stock valued at $41,000 after acquiring an additional 233 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its position in BioMarin Pharmaceutical by 920.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock worth $52,000 after purchasing an additional 663 shares during the period. 98.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. StockNews.com raised shares of BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 22nd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. UBS Group raised their price objective on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Scotiabank boosted their price target on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, February 20th. Finally, Wedbush reissued an “outperform” rating and issued a $94.00 price objective on shares of BioMarin Pharmaceutical 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $94.00.

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.