Traders Buy Large Volume of Call Options on BioMarin Pharmaceutical (NASDAQ:BMRN)

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Get Free Report) was the target of unusually large options trading activity on Thursday. Stock investors purchased 5,111 call options on the company. This represents an increase of 273% compared to the average volume of 1,372 call options.

Insider Transactions at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,344 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $68.38, for a total transaction of $91,902.72. Following the transaction, the chief accounting officer now owns 13,105 shares of the company's stock, valued at $896,119.90. This represents a 9.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.85% of the company's stock.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Institutional investors have recently bought and sold shares of the business. Oregon Public Employees Retirement Fund lifted its holdings in shares of BioMarin Pharmaceutical by 0.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 38,738 shares of the biotechnology company's stock valued at $2,546,000 after acquiring an additional 164 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of BioMarin Pharmaceutical by 13.9% during the fourth quarter. Fifth Third Bancorp now owns 1,351 shares of the biotechnology company's stock worth $89,000 after purchasing an additional 165 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of BioMarin Pharmaceutical by 1.6% in the third quarter. Advisors Asset Management Inc. now owns 11,451 shares of the biotechnology company's stock worth $805,000 after buying an additional 180 shares during the period. Freedom Investment Management Inc. boosted its position in shares of BioMarin Pharmaceutical by 3.8% in the fourth quarter. Freedom Investment Management Inc. now owns 5,022 shares of the biotechnology company's stock worth $330,000 after buying an additional 184 shares during the period. Finally, TD Private Client Wealth LLC grew its stake in shares of BioMarin Pharmaceutical by 57.4% in the third 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. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

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BioMarin Pharmaceutical Trading Down 1.0 %

Shares of BMRN traded down $0.75 during trading hours on Monday, hitting $70.69. The stock had a trading volume of 1,648,455 shares, compared to its average volume of 1,843,178. BioMarin Pharmaceutical has a 12-month low of $60.63 and a 12-month high of $94.85. The firm has a market cap of $13.49 billion, a P/E ratio of 32.13, a P/E/G ratio of 0.61 and a beta of 0.33. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 5.33. The company's fifty day simple moving average is $67.46 and its 200 day simple moving average is $67.51.

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

Wall Street Analyst Weigh In

A number of research firms recently commented on BMRN. Cantor Fitzgerald reissued an "overweight" rating and set a $90.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Citigroup lifted their price objective on BioMarin Pharmaceutical from $81.00 to $82.00 and gave the stock a "neutral" rating in a report on Thursday, February 20th. Royal Bank of Canada restated a "sector perform" rating and issued a $70.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. UBS Group increased their price objective on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Finally, StockNews.com upgraded shares of BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, March 18th. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.