BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) CAO Erin Burkhart Sells 1,344 Shares

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) CAO Erin Burkhart sold 1,344 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $68.38, for a total value of $91,902.72. Following the completion of the transaction, the chief accounting officer now owns 13,105 shares of the company’s stock, valued at $896,119.90. This trade represents a 9.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

BioMarin Pharmaceutical Stock Up 3.1 %

BMRN opened at $71.17 on Wednesday. BioMarin Pharmaceutical Inc. has a fifty-two week low of $60.63 and a fifty-two week high of $94.85. The business has a 50-day moving average of $65.03 and a 200-day moving average of $70.48. 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 company has a market capitalization of $13.56 billion, a PE ratio of 32.35, a price-to-earnings-growth ratio of 0.61 and a beta of 0.28.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of BioMarin Pharmaceutical by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 19,372,185 shares of the biotechnology company’s stock valued at $1,273,334,000 after acquiring an additional 93,531 shares in the last quarter. Primecap Management Co. CA raised its stake in shares of BioMarin Pharmaceutical by 0.4% in the 3rd quarter. Primecap Management Co. CA now owns 18,867,435 shares of the biotechnology company’s stock valued at $1,326,192,000 after acquiring an additional 77,350 shares in the last quarter. Dodge & Cox raised its stake in shares of BioMarin Pharmaceutical by 6.1% in the 4th 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 in the last quarter. Capital Research Global Investors raised its stake in shares of BioMarin Pharmaceutical by 23.8% in the 4th quarter. Capital Research Global Investors now owns 12,991,772 shares of the biotechnology company’s stock valued at $853,944,000 after acquiring an additional 2,496,817 shares in the last quarter. Finally, Norges Bank bought a new position in shares of BioMarin Pharmaceutical in the 4th quarter valued at approximately $234,645,000. 98.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Bank of America increased their price target on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Wedbush reiterated an “outperform” rating and issued a $94.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Finally, Wolfe Research assumed coverage on BioMarin Pharmaceutical in a research report on Friday, November 15th. They issued an “outperform” rating and a $95.00 price target for the company. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and an average target price of $94.00.

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.