BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) CAO Erin Burkhart Sells 1,344 Shares of Stock

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) CAO Erin Burkhart sold 1,344 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $68.38, for a total value of $91,902.72. Following the sale, the chief accounting officer now owns 13,105 shares of the company’s stock, valued at $896,119.90. The trade was a 9.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

BioMarin Pharmaceutical Stock Performance

BMRN stock opened at $71.17 on Wednesday. The company has a current ratio of 5.33, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. The firm has a market cap of $13.56 billion, a P/E ratio of 32.35, a P/E/G ratio of 0.61 and a beta of 0.28. BioMarin Pharmaceutical Inc. has a 12-month low of $60.63 and a 12-month high of $94.85. The stock’s 50 day simple moving average is $65.03 and its 200 day simple moving average is $70.48.

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

Institutional Investors Weigh In On BioMarin Pharmaceutical

Several large investors have recently added to or reduced their stakes in BMRN. Merit Financial Group LLC bought a new position in BioMarin Pharmaceutical during the fourth quarter valued at about $317,000. Assenagon Asset Management S.A. boosted its stake in BioMarin Pharmaceutical by 461.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company’s stock valued at $40,205,000 after buying an additional 502,695 shares in the last quarter. Wedmont Private Capital bought a new position in BioMarin Pharmaceutical during the fourth quarter valued at about $430,000. Swedbank AB boosted its stake in BioMarin Pharmaceutical by 11.2% during the fourth quarter. Swedbank AB now owns 432,122 shares of the biotechnology company’s stock valued at $28,403,000 after buying an additional 43,593 shares in the last quarter. Finally, EULAV Asset Management boosted its stake in BioMarin Pharmaceutical by 12.9% during the third quarter. EULAV Asset Management now owns 131,000 shares of the biotechnology company’s stock valued at $9,208,000 after buying an additional 15,000 shares in the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Piper Sandler boosted their target price on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Bank of America upped their price target on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Wolfe Research initiated coverage on BioMarin Pharmaceutical in a report on Friday, November 15th. They issued an “outperform” rating and a $95.00 price target for the company. Canaccord Genuity Group decreased their price target on BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating for the company in a report on Wednesday, October 30th. Finally, UBS Group upped their price target on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and an average 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.