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

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Get Free Report) 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 transaction 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 approximately $1,212,621.60. This trade represents a 7.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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 transaction of $91,902.72.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ BMRN traded up $0.75 during midday trading on Monday, hitting $71.99. The company had a trading volume of 1,466,203 shares, compared to its average volume of 1,787,053. The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11. The business has a 50-day simple moving average of $66.68 and a two-hundred day simple moving average of $67.87. BioMarin Pharmaceutical Inc. has a twelve month low of $60.63 and a twelve month high of $94.85. The firm has a market capitalization of $13.73 billion, a price-to-earnings ratio of 32.72, a price-to-earnings-growth ratio of 0.61 and a beta of 0.33.

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BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.54 by $0.18. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. The business had revenue of $747.31 million for the quarter, compared to analyst estimates of $711.05 million. Equities research analysts anticipate that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

BMRN has been the topic of a number of analyst reports. Citigroup raised their price target on 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 BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. StockNews.com raised BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a report on Tuesday, March 18th. Wedbush reissued an "outperform" rating and set a $94.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $70.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Seven equities 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's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $94.00.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Merit Financial Group LLC acquired a new position in shares of BioMarin Pharmaceutical in the fourth quarter worth $317,000. Assenagon Asset Management S.A. raised its stake in BioMarin Pharmaceutical by 461.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company's stock valued at $40,205,000 after purchasing an additional 502,695 shares during the last quarter. Wedmont Private Capital purchased a new position in BioMarin Pharmaceutical in the 4th quarter valued at about $430,000. Swedbank AB boosted its stake in shares of BioMarin Pharmaceutical by 11.2% during the 4th quarter. Swedbank AB now owns 432,122 shares of the biotechnology company's stock worth $28,403,000 after purchasing an additional 43,593 shares during the last quarter. Finally, EULAV Asset Management grew its holdings in shares of BioMarin Pharmaceutical by 12.9% during the third quarter. EULAV Asset Management now owns 131,000 shares of the biotechnology company's stock worth $9,208,000 after buying an additional 15,000 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

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.