Traders sold shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) on strength during trading hours on Monday following insider selling activity. $29.60 million flowed into the stock on the tick-up and $40.63 million flowed out of the stock on the tick-down, for a money net flow of $11.03 million out of the stock. Of all equities tracked, BioMarin Pharmaceutical had the 0th highest net out-flow for the day. BioMarin Pharmaceutical traded up $0.41 for the day and closed at $85.45Specifically, Director V Bryan Lawlis sold 6,400 shares of the stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $95.01, for a total value of $608,064.00. Following the completion of the sale, the director now owns 20,260 shares of the company’s stock, valued at approximately $1,924,902.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Brian Mueller sold 287 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $100.00, for a total transaction of $28,700.00. Following the completion of the sale, the vice president now directly owns 14,260 shares of the company’s stock, valued at approximately $1,426,000. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.
Several research firms have recently weighed in on BMRN. Vetr raised shares of BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating and set a $110.24 price target for the company in a research note on Tuesday, August 9th. Wedbush reissued a “neutral” rating and issued a $108.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, July 28th. Leerink Swann reissued an “outperform” rating and issued a $127.00 price target on shares of BioMarin Pharmaceutical in a research note on Friday, September 16th. Jefferies Group set a $116.00 price target on shares of BioMarin Pharmaceutical and gave the company a “buy” rating in a research note on Thursday, July 28th. Finally, Credit Suisse Group AG set a $111.00 price target on shares of BioMarin Pharmaceutical and gave the company a “buy” rating in a research note on Thursday, July 28th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. BioMarin Pharmaceutical presently has a consensus rating of “Buy” and an average target price of $118.31.
The company’s market cap is $13.96 billion. The company’s 50-day moving average price is $94.02 and its 200-day moving average price is $89.71.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Thursday, August 4th. The company reported ($2.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.52) by $2.09. BioMarin Pharmaceutical had a negative net margin of 54.53% and a negative return on equity of 11.99%. The company earned $300.10 million during the quarter, compared to analysts’ expectations of $278.75 million. During the same quarter in the previous year, the firm posted ($0.51) earnings per share. BioMarin Pharmaceutical’s revenue for the quarter was up 20.0% compared to the same quarter last year. On average, analysts predict that BioMarin Pharmaceutical Inc. will post ($3.95) earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in BMRN. Rockefeller Financial Services Inc. bought a new stake in BioMarin Pharmaceutical during the second quarter worth about $111,000. Independent Portfolio Consultants Inc. bought a new stake in BioMarin Pharmaceutical during the third quarter worth about $121,000. Meeder Asset Management Inc. bought a new stake in BioMarin Pharmaceutical during the second quarter worth about $140,000. Mutual of America Capital Management LLC increased its stake in BioMarin Pharmaceutical by 930.0% in the second quarter. Mutual of America Capital Management LLC now owns 1,854 shares of the company’s stock worth $144,000 after buying an additional 1,674 shares during the last quarter. Finally, LS Investment Advisors LLC increased its stake in BioMarin Pharmaceutical by 13.5% in the second quarter. LS Investment Advisors LLC now owns 1,946 shares of the company’s stock worth $151,000 after buying an additional 231 shares during the last quarter. Hedge funds and other institutional investors own 93.08% of the company’s stock.
About BioMarin Pharmaceutical
BioMarin Pharmaceutical Inc (BioMarin) develops and commercializes pharmaceuticals for various diseases and medical conditions. The Company’s product portfolio consists of approximately five approved products, and multiple clinical and pre-clinical product candidates. Its approved products include Vimizim (elosulfase alpha), Naglazyme (galsulfase), Kuvan (sapropterin dihydrochloride), Aldurazyme (laronidase) and Firdapse (amifampridine phosphate).
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