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

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) CAO Erin Burkhart sold 1,344 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 13,105 shares in the company, valued at approximately $896,119.90. The trade was a 9.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

BioMarin Pharmaceutical Stock Performance

BioMarin Pharmaceutical stock opened at $68.81 on Thursday. The stock has a market cap of $13.11 billion, a price-to-earnings ratio of 31.28, a price-to-earnings-growth ratio of 0.61 and a beta of 0.28. 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 firm has a 50 day simple moving average of $65.11 and a 200-day simple moving average of $70.47. BioMarin Pharmaceutical Inc. has a 1-year low of $60.63 and a 1-year high of $94.85.

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, topping the consensus estimate of $0.54 by $0.18. The company had revenue of $747.31 million during the quarter, compared to analyst estimates of $711.05 million. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. On average, analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current year.

Wall Street Analyst Weigh In

BMRN has been the subject of several recent analyst reports. William Blair lowered shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Wedbush reissued an “outperform” rating and set a $94.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. JPMorgan Chase & Co. reduced their price target on shares of BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. UBS Group lifted their price objective on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Finally, Oppenheimer raised BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 target price for the company in a report on Monday. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.00.

Institutional Trading of BioMarin Pharmaceutical

Institutional investors have recently added to or reduced their stakes in the stock. LRI Investments LLC boosted its position in shares of BioMarin Pharmaceutical by 856.9% during the fourth quarter. LRI Investments LLC now owns 488 shares of the biotechnology company’s stock worth $32,000 after buying an additional 437 shares during the period. TD Private Client Wealth LLC boosted its holdings in BioMarin Pharmaceutical by 57.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock valued at $36,000 after acquiring an additional 186 shares during the period. SBI Securities Co. Ltd. purchased a new position in BioMarin Pharmaceutical during the 4th quarter valued at about $36,000. CIBC Private Wealth Group LLC grew its position in BioMarin Pharmaceutical by 64.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company’s stock valued at $41,000 after acquiring an additional 233 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its stake in BioMarin Pharmaceutical by 920.8% during the third quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock worth $52,000 after purchasing an additional 663 shares during the period. Institutional investors and hedge funds own 98.71% of the company’s stock.

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.