BioMarin Pharmaceutical (NASDAQ:BMRN) Hits New 1-Year Low on Insider Selling

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Get Free Report)'s share price reached a new 52-week low during trading on Friday after an insider sold shares in the company. The stock traded as low as $64.56 and last traded at $64.88, with a volume of 74320 shares changing hands. The stock had previously closed at $65.60.

Specifically, EVP Charles Greg Guyer sold 5,278 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total value of $350,300.86. Following the transaction, the executive vice president now directly owns 68,909 shares of the company's stock, valued at approximately $4,573,490.33. This trade represents a 7.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Analyst Ratings Changes

A number of research firms have recently commented on BMRN. Bank of America cut their price objective on BioMarin Pharmaceutical from $130.00 to $115.00 and set a "buy" rating on the stock in a report on Tuesday, September 17th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $80.00 price target on shares of BioMarin Pharmaceutical in a research report on Wednesday, October 30th. TD Cowen dropped their price objective on shares of BioMarin Pharmaceutical from $125.00 to $120.00 and set a "buy" rating for the company in a research report on Tuesday, August 6th. Cantor Fitzgerald reduced their target price on shares of BioMarin Pharmaceutical from $110.00 to $90.00 and set an "overweight" rating on the stock in a report on Wednesday, October 30th. Finally, Robert W. Baird lowered their price target on BioMarin Pharmaceutical from $72.00 to $65.00 and set a "neutral" rating for the company in a report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $94.20.

BioMarin Pharmaceutical Trading Down 3.3 %

The firm has a 50-day moving average of $70.85 and a 200 day moving average of $79.28. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $12.09 billion, a price-to-earnings ratio of 38.85, a PEG ratio of 0.66 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 EPS for the quarter, missing analysts' consensus estimates of $0.78 by ($0.23). The business had revenue of $746.00 million for the quarter, compared to analyst estimates of $703.37 million. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. BioMarin Pharmaceutical's revenue for the quarter was up 28.4% on a year-over-year basis. During the same period last year, the business posted $0.26 earnings per share. As a group, equities analysts predict that BioMarin Pharmaceutical Inc. will post 2.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BMRN. Innealta Capital LLC acquired a new stake in BioMarin Pharmaceutical in the second quarter worth approximately $25,000. nVerses Capital LLC bought a new position in BioMarin Pharmaceutical during the third quarter valued at about $28,000. BOKF NA acquired a new position in BioMarin Pharmaceutical during the second quarter worth about $31,000. Quent Capital LLC raised its position in BioMarin Pharmaceutical by 58.9% in the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company's stock worth $32,000 after acquiring an additional 145 shares in the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new stake in BioMarin Pharmaceutical in the 2nd quarter valued at about $47,000. 98.71% of the stock is currently owned by institutional investors.

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.