Insider Selling: BioMarin Pharmaceutical (NASDAQ:BMRN) EVP Sells $996,743.56 in Stock

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) EVP Charles Greg Guyer sold 16,486 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $60.46, for a total transaction of $996,743.56. Following the completion of the sale, the executive vice president owned 79,953 shares in the company, valued at approximately $4,833,958.38. The trade was a 17.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

BioMarin Pharmaceutical Trading Down 0.9%

Shares of BioMarin Pharmaceutical stock opened at $58.51 on Friday. BioMarin Pharmaceutical Inc. has a twelve month low of $50.76 and a twelve month high of $73.18. The company has a quick ratio of 3.50, a current ratio of 5.21 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average price of $58.96 and a 200-day moving average price of $56.33. The firm has a market cap of $11.25 billion, a price-to-earnings ratio of 32.87, a PEG ratio of 0.57 and a beta of 0.25.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Several large investors have recently added to or reduced their stakes in the stock. CIBC Private Wealth Group LLC grew its stake in BioMarin Pharmaceutical by 38.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock worth $39,000 after acquiring an additional 179 shares in the last quarter. Northwestern Mutual Investment Management Company LLC raised its stake in shares of BioMarin Pharmaceutical by 0.4% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 42,982 shares of the biotechnology company’s stock valued at $2,554,000 after acquiring an additional 183 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of BioMarin Pharmaceutical by 7.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,741 shares of the biotechnology company’s stock valued at $163,000 after purchasing an additional 195 shares during the period. Sittner & Nelson LLC boosted its holdings in shares of BioMarin Pharmaceutical by 6.9% in the second quarter. Sittner & Nelson LLC now owns 3,100 shares of the biotechnology company’s stock valued at $170,000 after purchasing an additional 200 shares during the period. Finally, Grandfield & Dodd LLC boosted its holdings in shares of BioMarin Pharmaceutical by 1.2% in the third quarter. Grandfield & Dodd LLC now owns 18,967 shares of the biotechnology company’s stock valued at $1,027,000 after purchasing an additional 217 shares during the period. 98.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on BMRN shares. Barclays raised their price target on BioMarin Pharmaceutical from $80.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, March 3rd. Guggenheim lowered their target price on BioMarin Pharmaceutical from $106.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. Stifel Nicolaus set a $68.00 target price on shares of BioMarin Pharmaceutical in a report on Tuesday, February 24th. Truist Financial boosted their price target on shares of BioMarin Pharmaceutical from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, December 23rd. Finally, Loop Capital set a $105.00 price target on shares of BioMarin Pharmaceutical in a research note on Monday, March 2nd. Seventeen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.00.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc is a biopharmaceutical company specializing in the development and commercialization of therapies for rare genetic and metabolic diseases. The company focuses on addressing unmet medical needs by leveraging enzyme replacement therapy, small molecule pharmacological chaperones and gene therapy technologies. Headquartered in Novato, California, BioMarin operates research and development facilities in the United States and Europe.

The company’s commercial portfolio includes several approved therapies targeting inherited disorders.