Insider Selling: BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) CEO Sells 4,000 Shares

BioMarin Pharmaceutical Inc. (NASDAQ: BMRN – Get a rating) CEO Jean-Jacques Bienaime sold 4,000 shares of the company in a trade on Friday, October 14. The stock was sold at an average price of $89.89, for a total transaction of $359,560.00. As a result of the transaction, the CEO now owns 324,324 shares of the company, valued at approximately $29,153,484.36. The sale was disclosed in a filing with the SEC, accessible via this hyperlink.

Jean Jacques Bienaime has also recently exercised the following occupation(s):

  • On Monday August 15, Jean Jacques Bienaime sold 3,000 BioMarin Pharmaceutical shares. The stock was sold at an average price of $95.21, for a total transaction of $285,630.00.
  • On Friday August 12, Jean Jacques Bienaime sold 4,000 BioMarin Pharmaceutical shares. The stock was sold at an average price of $94.75, for a total transaction of $379,000.00.

Price performance of BioMarin Pharmaceutical

The NASDAQ BMRN rose $0.71 during trading hours on Tuesday, hitting $89.49. The company’s stock had a trading volume of 1,489,373 shares, compared to its average volume of 1,187,870. The stock has a market capitalization of $16.60 billion, a PE ratio of 344.40, a PEG ratio of 1.94 and a beta of 0.33. BioMarin Pharmaceutical Inc. has a fifty-two week low of $70.73 and a fifty-two week high of $97.76. The company’s 50-day moving average is $89.72 and its two-hundred-day moving average is $84.67. The company has a debt ratio of 0.24, a quick ratio of 3.69 and a current ratio of 5.42.

BioMarin Pharmaceutical (NASDAQ: BMRN – Get a rating) last released its quarterly results on Wednesday, August 3. The biotech company reported earnings per share (EPS) of $0.33 for the quarter, beating the consensus estimate of $0.20 by $0.13. BioMarin Pharmaceutical achieved a net margin of 2.83% and a return on equity of 1.78%. The company posted revenue of $533.80 million for the quarter, compared to $514.18 million expected by analysts. During the same period last year, the company achieved EPS of $0.23. Analysts expect BioMarin Pharmaceutical Inc. to post EPS of 0.9 for the current year.

Analysts set new price targets

A number of stock analysts have commented on BMRN shares. Stifel Nicolaus raised his price target on BioMarin Pharmaceutical shares to $104.00 in a Wednesday, September 28 research report. Barclays raised its price target on BioMarin Pharmaceutical shares from $112.00 to $125.00 and gave the company an “overweight” rating in a Thursday, August 4 report. Piper Sandler raised her price target on BioMarin Pharmaceutical shares from $125.00 to $128.00 and gave the company an “overweight” rating in a Tuesday, Aug. 9 report. Credit Suisse Group raised its price target on shares of BioMarin Pharmaceutical to $111.00 in a Tuesday, August 9 report. Finally, SVB Leerink raised its price target on BioMarin Pharmaceutical shares from $115.00 to $122.00 and gave the company an “outperform” rating in a Thursday, August 4 report. Three research analysts gave the stock a hold rating and thirteen gave the company a buy rating. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $112.13.

Institutional investors weigh in on BioMarin Pharmaceutical

Several hedge funds have recently changed their holdings in the company. Vanguard Group Inc. increased its stake in shares of BioMarin Pharmaceutical by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 16,502,243 shares of the biotech company worth $1,272,322,000 after buying an additional 151,212 shares in the last quarter. Viking Global Investors LP increased its stake in shares of BioMarin Pharmaceutical by 30.7% during the 1st quarter. Viking Global Investors LP now owns 3,752,393 shares of the biotech company worth $289,310,000 after acquiring an additional 882,446 shares during the period. Parnassus Investments LLC increased its equity stake in BioMarin Pharmaceutical by 2.0% during the second quarter. Parnassus Investments LLC now owns 2,781,420 shares of the biotech company worth $230,496,000 after acquiring an additional 55,490 shares during the period. Norges Bank bought a new position in shares of BioMarin Pharmaceutical during Q4 for a value of approximately $207,582,000. Finally, UBS Asset Management Americas Inc. increased its stake in BioMarin Pharmaceutical shares by 0.7% during the second quarter. UBS Asset Management Americas Inc. now owns 1,562,365 shares of the biotech company worth $129,473,000 after acquiring 10,748 additional shares during the period. 94.84% of the shares are held by institutional investors and hedge funds.

About BioMarin Pharmaceutical

(Get a rating)

BioMarin Pharmaceutical Inc develops and markets therapies for people with rare diseases and serious, life-threatening 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 used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.

See also

Insider buying and selling by quarter for BioMarin Pharmaceutical (NASDAQ:BMRN)

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