Insider Selling: BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) EVP Sells $157,268.50 in Stock

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) EVP George Eric Davis sold 1,850 shares of BioMarin Pharmaceutical stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $85.01, for a total value of $157,268.50. Following the completion of the transaction, the executive vice president now owns 56,157 shares of the company’s stock, valued at $4,773,906.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

George Eric Davis also recently made the following trade(s):

• On Thursday, March 28th, George Eric Davis sold 24,602 shares of BioMarin Pharmaceutical stock. The shares were sold at an average price of $88.34, for a total transaction of $2,173,340.68.

BioMarin Pharmaceutical Price Performance

BMRN stock opened at $81.83 on Thursday. The firm has a 50-day moving average of $86.56 and a 200 day moving average of $89.02. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.74 and a quick ratio of 1.70. The company has a market cap of $15.54 billion, a P/E ratio of 76.48, a PEG ratio of 1.30 and a beta of 0.34. BioMarin Pharmaceutical Inc. has a 1 year low of $76.02 and a 1 year high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Thursday, February 22nd. The biotechnology company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. The company had revenue of $646.21 million during the quarter, compared to analysts’ expectations of $639.53 million. BioMarin Pharmaceutical had a return on equity of 5.34% and a net margin of 8.31%. The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.11 EPS. On average, sell-side analysts forecast that BioMarin Pharmaceutical Inc. will post 1.98 EPS for the current year.

Analyst Ratings Changes

BMRN has been the subject of several research analyst reports. Morgan Stanley dropped their price target on BioMarin Pharmaceutical from $115.00 to $112.00 and set an “overweight” rating for the company in a research note on Friday, April 26th. Canaccord Genuity Group cut their target price on BioMarin Pharmaceutical from $91.00 to $89.00 and set a “hold” rating for the company in a research note on Friday, April 26th. Scotiabank lifted their price target on shares of BioMarin Pharmaceutical from $83.00 to $85.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 25th. Piper Sandler cut their price target on shares of BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating for the company in a research report on Friday, February 23rd. Finally, Wells Fargo & Company lifted their price objective on BioMarin Pharmaceutical from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $107.50.

Institutional Trading of BioMarin Pharmaceutical

Hedge funds and other institutional investors have recently modified their holdings of the business. Commonwealth Equity Services LLC boosted its stake in BioMarin Pharmaceutical by 8.3% during the third quarter. Commonwealth Equity Services LLC now owns 7,413 shares of the biotechnology company’s stock worth $656,000 after acquiring an additional 568 shares in the last quarter. Xponance Inc. boosted its position in shares of BioMarin Pharmaceutical by 2.5% in the 3rd quarter. Xponance Inc. now owns 9,169 shares of the biotechnology company’s stock worth $811,000 after purchasing an additional 226 shares in the last quarter. Stratos Wealth Partners LTD. purchased a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter worth approximately $495,000. Forsta AP Fonden increased its position in BioMarin Pharmaceutical by 1.9% during the 3rd quarter. Forsta AP Fonden now owns 37,500 shares of the biotechnology company’s stock valued at $3,318,000 after buying an additional 700 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in BioMarin Pharmaceutical by 20.9% during the third quarter. Mackenzie Financial Corp now owns 36,296 shares of the biotechnology company’s stock valued at $3,128,000 after buying an additional 6,280 shares during the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

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.