Insider Selling: BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) CAO Sells $92,618.40 in Stock

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) CAO Erin Burkhart sold 1,295 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $71.52, for a total transaction of $92,618.40. Following the completion of the transaction, the chief accounting officer now owns 16,955 shares in the company, valued at approximately $1,212,621.60. The trade was a 7.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Erin Burkhart also recently made the following trade(s):

• On Monday, February 24th, Erin Burkhart sold 1,344 shares of BioMarin Pharmaceutical stock. The stock was sold at an average price of $68.38, for a total transaction of $91,902.72.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN opened at $71.24 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62. The stock has a market cap of $13.59 billion, a price-to-earnings ratio of 32.38, a PEG ratio of 0.61 and a beta of 0.33. The company has a 50-day moving average of $66.58 and a two-hundred day moving average of $68.12. BioMarin Pharmaceutical Inc. has a one year low of $60.63 and a one year high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.18. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. The firm had revenue of $747.31 million for the quarter, compared to the consensus estimate of $711.05 million. On average, equities research analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BMRN. Oppenheimer raised shares of BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 price objective on the stock in a report on Monday, February 24th. Wedbush reaffirmed an “outperform” rating and issued a $94.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Bank of America increased their price objective on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $70.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Finally, UBS Group increased their price objective on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $94.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BMRN. Norges Bank purchased a new position in BioMarin Pharmaceutical during the fourth quarter valued at approximately $234,645,000. Capital Research Global Investors grew its position in BioMarin Pharmaceutical by 23.8% during the fourth quarter. Capital Research Global Investors now owns 12,991,772 shares of the biotechnology company’s stock valued at $853,944,000 after purchasing an additional 2,496,817 shares in the last quarter. Soleus Capital Management L.P. acquired a new stake in BioMarin Pharmaceutical in the fourth quarter valued at approximately $65,822,000. Dodge & Cox lifted its stake in BioMarin Pharmaceutical by 6.1% in the fourth quarter. Dodge & Cox now owns 14,746,235 shares of the biotechnology company’s stock valued at $969,270,000 after acquiring an additional 847,917 shares during the last quarter. Finally, Erste Asset Management GmbH acquired a new stake in BioMarin Pharmaceutical in the third quarter valued at approximately $48,527,000. 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.