Insider Selling: BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Director Sells 20,000 Shares of Stock

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Director Jean Jacques Bienaime sold 20,000 shares of the stock in a transaction on Friday, April 12th. The stock was sold at an average price of $91.26, for a total value of $1,825,200.00. Following the completion of the transaction, the director now owns 474,994 shares in the company, valued at $43,347,952.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Jean Jacques Bienaime also recently made the following trade(s):

• On Tuesday, March 5th, Jean Jacques Bienaime sold 1,000 shares of BioMarin Pharmaceutical stock. The stock was sold at an average price of $85.51, for a total value of $85,510.00.
• On Tuesday, February 27th, Jean Jacques Bienaime sold 1,000 shares of BioMarin Pharmaceutical stock. The stock was sold at an average price of $90.35, for a total value of $90,350.00.
• On Friday, February 9th, Jean Jacques Bienaime sold 15,000 shares of BioMarin Pharmaceutical stock. The stock was sold at an average price of $88.28, for a total value of $1,324,200.00.

BioMarin Pharmaceutical Stock Performance

Shares of BioMarin Pharmaceutical stock traded down $0.71 during trading hours on Monday, hitting $91.51. 1,942,193 shares of the company’s stock traded hands, compared to its average volume of 1,356,714. The company has a fifty day simple moving average of $87.46 and a 200-day simple moving average of $89.06. BioMarin Pharmaceutical Inc. has a 12-month low of $76.02 and a 12-month high of $100.38. The stock has a market capitalization of $17.27 billion, a price-to-earnings ratio of 105.11, a PEG ratio of 1.76 and a beta of 0.31. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.51 and a quick ratio of 1.57.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Thursday, February 22nd. The biotechnology company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.05. BioMarin Pharmaceutical had a return on equity of 5.01% and a net margin of 6.93%. The company had revenue of $646.21 million during the quarter, compared to analyst estimates of $639.53 million. During the same quarter last year, the firm posted $0.11 EPS. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. Equities research analysts anticipate that BioMarin Pharmaceutical Inc. will post 1.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on BMRN shares. Piper Sandler cut their target price on BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating on the stock in a report on Friday, February 23rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $100.00 price target on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd. Cantor Fitzgerald reissued an “overweight” rating and issued a $100.00 price target on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd. Canaccord Genuity Group reissued a “hold” rating and issued a $91.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 29th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $101.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, December 21st. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $107.61.

Hedge Funds Weigh In On BioMarin Pharmaceutical

A number of large investors have recently modified their holdings of BMRN. KB Financial Partners LLC raised its holdings in shares of BioMarin Pharmaceutical by 51.3% during the 3rd quarter. KB Financial Partners LLC now owns 348 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 118 shares in the last quarter. ICA Group Wealth Management LLC purchased a new position in shares of BioMarin Pharmaceutical during the 4th quarter valued at about $31,000. Acadian Asset Management LLC raised its holdings in shares of BioMarin Pharmaceutical by 395.4% during the 1st quarter. Acadian Asset Management LLC now owns 431 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 344 shares in the last quarter. Castleview Partners LLC purchased a new position in shares of BioMarin Pharmaceutical during the 3rd quarter valued at about $35,000. Finally, MayTech Global Investments LLC purchased a new position in shares of BioMarin Pharmaceutical during the 4th quarter valued at about $36,000. 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.