BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) CAO Sells $92,618.40 in Stock

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) CAO Erin Burkhart sold 1,295 shares of the business’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $71.52, for a total value of $92,618.40. Following the completion of the transaction, the chief accounting officer now owns 16,955 shares of the company’s stock, valued at $1,212,621.60. This represents a 7.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Erin Burkhart also recently made the following trade(s):

• On Monday, February 24th, Erin Burkhart sold 1,344 shares of BioMarin Pharmaceutical stock. The stock was sold at an average price of $68.38, for a total value of $91,902.72.

BioMarin Pharmaceutical Price Performance

BMRN traded up $0.28 on Thursday, hitting $71.60. 1,355,711 shares of the company’s stock traded hands, compared to its average volume of 1,776,407. BioMarin Pharmaceutical Inc. has a one year low of $60.63 and a one year high of $94.85. The company has a current ratio of 5.33, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. The firm has a market cap of $13.66 billion, a price-to-earnings ratio of 32.55, a P/E/G ratio of 0.61 and a beta of 0.33. The company’s 50 day simple moving average is $66.50 and its 200-day simple moving average is $68.42.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (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 firm had revenue of $747.31 million for the quarter, compared to analysts’ expectations of $711.05 million. As a group, research analysts anticipate that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. LRI Investments LLC increased its holdings 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 worth $32,000 after purchasing an additional 437 shares during the last quarter. TD Private Client Wealth LLC grew its holdings in BioMarin Pharmaceutical by 57.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 186 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in BioMarin Pharmaceutical in the 4th quarter worth approximately $36,000. CIBC Private Wealth Group LLC increased its stake in BioMarin Pharmaceutical by 64.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company’s stock worth $41,000 after acquiring an additional 233 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its position in shares of BioMarin Pharmaceutical by 920.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock valued at $52,000 after acquiring an additional 663 shares during the last quarter. Institutional investors own 98.71% of the company’s stock.

Analysts Set New Price Targets

BMRN has been the topic of several research analyst reports. Citigroup upped their target price on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Piper Sandler raised their target price on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Oppenheimer raised shares of BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 target price for the company in a research report on Monday, February 24th. Scotiabank increased their price target on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a “sector perform” rating in a report on Thursday, February 20th. Finally, StockNews.com upgraded BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Seven 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.