BioMarin Pharmaceutical (NASDAQ:BMRN) EVP Charles Greg Guyer Sells 16,486 Shares of 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 sale, the executive vice president owned 79,953 shares in the company, valued at $4,833,958.38. The trade was a 17.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

BioMarin Pharmaceutical Price Performance

Shares of BMRN traded down $0.50 during trading hours on Friday, reaching $58.57. The company had a trading volume of 419,397 shares, compared to its average volume of 2,167,333. The firm has a 50 day simple moving average of $58.98 and a 200-day simple moving average of $56.34. The company has a current ratio of 5.21, a quick ratio of 3.50 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $11.26 billion, a price-to-earnings ratio of 32.90, a PEG ratio of 0.53 and a beta of 0.25. BioMarin Pharmaceutical Inc. has a 12-month low of $50.76 and a 12-month high of $73.18.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BMRN. Activest Wealth Management acquired a new stake in shares of BioMarin Pharmaceutical in the 4th quarter valued at about $26,000. Quent Capital LLC bought a new stake in BioMarin Pharmaceutical in the third quarter valued at about $28,000. CIBC Private Wealth Group LLC increased its holdings in BioMarin Pharmaceutical by 38.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock valued at $39,000 after buying an additional 179 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in BioMarin Pharmaceutical by 92.5% during the third quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock valued at $40,000 after buying an additional 360 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in BioMarin Pharmaceutical during the third quarter valued at approximately $40,000. Hedge funds and other institutional investors own 98.71% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on BMRN. Guggenheim reduced their price target on shares of BioMarin Pharmaceutical from $106.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. Loop Capital set a $105.00 price target on BioMarin Pharmaceutical in a report on Monday, March 2nd. Wells Fargo & Company raised their price objective on BioMarin Pharmaceutical from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Bank of America reduced their price objective on BioMarin Pharmaceutical from $97.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Stifel Nicolaus set a $68.00 target price on BioMarin Pharmaceutical in a report on Tuesday, February 24th. Seventeen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.