George Eric Davis Sells 2,709 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Stock


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BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) EVP George Eric Davis sold 2,709 shares of the stock in a transaction dated Monday, April 19th. The stock was sold at an average price of $79.58, for a total value of $215,582.22. Following the transaction, the executive vice president now owns 71,149 shares of the company’s stock, valued at approximately $5,662,037.42. The transaction was disclosed in a filing with the SEC, which is available at this link.

Shares of BMRN stock opened at $79.70 on Friday. The firm has a 50 day moving average price of $77.45 and a two-hundred day moving average price of $80.56. The company has a quick ratio of 2.38, a current ratio of 3.20 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $14.49 billion, a PE ratio of 18.24, a price-to-earnings-growth ratio of 3.89 and a beta of 0.71. BioMarin Pharmaceutical Inc. has a 12-month low of $71.35 and a 12-month high of $131.95.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Thursday, February 25th. The biotechnology company reported $0.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.18. The firm had revenue of $452.12 million during the quarter, compared to the consensus estimate of $447.17 million. BioMarin Pharmaceutical had a net margin of 45.74% and a return on equity of 4.34%. As a group, research analysts expect that BioMarin Pharmaceutical Inc. will post 0.6 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Quattro Financial Advisors LLC bought a new position in shares of BioMarin Pharmaceutical during the first quarter worth approximately $958,000. Grandfield & Dodd LLC increased its holdings in shares of BioMarin Pharmaceutical by 2.5% during the first quarter. Grandfield & Dodd LLC now owns 11,519 shares of the biotechnology company’s stock worth $870,000 after purchasing an additional 280 shares during the period. BOKF NA increased its holdings in shares of BioMarin Pharmaceutical by 2.4% during the first quarter. BOKF NA now owns 14,214 shares of the biotechnology company’s stock worth $1,074,000 after purchasing an additional 331 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in shares of BioMarin Pharmaceutical during the first quarter worth approximately $393,000. Finally, Exchange Traded Concepts LLC increased its holdings in shares of BioMarin Pharmaceutical by 66.6% during the first quarter. Exchange Traded Concepts LLC now owns 27,548 shares of the biotechnology company’s stock worth $2,080,000 after purchasing an additional 11,012 shares during the period. 97.65% of the stock is currently owned by institutional investors.

A number of research firms have issued reports on BMRN. Evercore ISI upgraded BioMarin Pharmaceutical from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $90.00 to $100.00 in a report on Monday, March 8th. Robert W. Baird restated a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Monday, March 1st. Morgan Stanley reduced their price objective on shares of BioMarin Pharmaceutical from $85.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday. Wedbush restated an “outperform” rating and set a $139.00 price objective on shares of BioMarin Pharmaceutical in a research note on Tuesday, March 23rd. Finally, Canaccord Genuity reduced their price objective on shares of BioMarin Pharmaceutical from $95.00 to $91.00 and set a “buy” rating for the company in a research note on Monday, March 8th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $117.74.

BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical Inc, a biotechnology company, develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Aldurazyme to treat mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.

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