BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) EVP Sells $350,300.86 in Stock

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) EVP Charles Greg Guyer sold 5,278 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total value of $350,300.86. Following the completion of the transaction, the executive vice president now directly owns 68,909 shares in the company, valued at $4,573,490.33. This trade represents a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

BioMarin Pharmaceutical Trading Down 3.3 %

BioMarin Pharmaceutical stock opened at $63.42 on Friday. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a 12-month low of $63.22 and a 12-month high of $99.56. The firm has a market capitalization of $12.09 billion, a price-to-earnings ratio of 37.98, a P/E/G ratio of 0.66 and a beta of 0.31. The firm has a 50 day moving average of $70.43 and a 200 day moving average of $79.14.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The firm had revenue of $746.00 million during the quarter, compared to analysts’ expectations of $703.37 million. During the same period last year, the company earned $0.26 earnings per share. The business’s revenue for the quarter was up 28.4% on a year-over-year basis. As a group, research analysts predict that BioMarin Pharmaceutical Inc. will post 2.47 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BMRN. Canaccord Genuity Group lowered their price target on BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th. Wedbush upgraded shares of BioMarin Pharmaceutical to a “strong-buy” rating in a research note on Monday, November 4th. UBS Group boosted their price objective on shares of BioMarin Pharmaceutical from $104.00 to $106.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Bank of America lowered their price objective on shares of BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Finally, Stifel Nicolaus cut their target price on shares of BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Seven analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and a consensus target price of $94.20.

Institutional Trading of BioMarin Pharmaceutical

Several institutional investors have recently made changes to their positions in the business. Innealta Capital LLC purchased a new position in BioMarin Pharmaceutical in the 2nd quarter worth approximately $25,000. nVerses Capital LLC purchased a new position in shares of BioMarin Pharmaceutical in the third quarter worth $28,000. BOKF NA bought a new position in shares of BioMarin Pharmaceutical during the second quarter worth $31,000. Quent Capital LLC grew its stake in BioMarin Pharmaceutical by 58.9% during the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 145 shares in the last quarter. Finally, Itau Unibanco Holding S.A. purchased a new position in BioMarin Pharmaceutical during the second quarter valued at $47,000. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Company Profile

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.