Jean Jacques Bienaime Sells 10,000 Shares of BioMarin Pharmaceutical Inc. (BMRN) Stock

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) CEO Jean Jacques Bienaime sold 10,000 shares of the stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $90.32, for a total value of $903,200.00. Following the completion of the sale, the chief executive officer now owns 235,894 shares of the company’s stock, valued at $21,305,946.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Jean Jacques Bienaime also recently made the following trade(s):

  • On Saturday, December 29th, Jean Jacques Bienaime sold 10,000 shares of BioMarin Pharmaceutical stock. The stock was sold at an average price of $89.61, for a total value of $896,100.00.
  • On Friday, December 29th, Jean Jacques Bienaime sold 20,000 shares of BioMarin Pharmaceutical stock. The stock was sold at an average price of $89.75, for a total value of $1,795,000.00.

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) opened at $88.37 on Thursday. BioMarin Pharmaceutical Inc. has a 52-week low of $80.10 and a 52-week high of $100.51. The stock has a market capitalization of $15,520.00, a P/E ratio of -106.47 and a beta of 1.81. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.91 and a quick ratio of 3.81.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Thursday, October 26th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.06. BioMarin Pharmaceutical had a negative return on equity of 4.60% and a negative net margin of 12.45%. The company had revenue of $334.18 million during the quarter, compared to analysts’ expectations of $347.38 million. During the same period last year, the firm posted $0.02 earnings per share. The business’s revenue was up 19.4% on a year-over-year basis. sell-side analysts anticipate that BioMarin Pharmaceutical Inc. will post -0.64 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BMRN. TIAA CREF Investment Management LLC lifted its position in shares of BioMarin Pharmaceutical by 63.7% in the second quarter. TIAA CREF Investment Management LLC now owns 2,251,011 shares of the biotechnology company’s stock valued at $204,437,000 after buying an additional 875,686 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of BioMarin Pharmaceutical by 4.7% in the second quarter. Vanguard Group Inc. now owns 14,345,027 shares of the biotechnology company’s stock valued at $1,302,816,000 after buying an additional 642,623 shares during the last quarter. Teachers Advisors LLC lifted its position in shares of BioMarin Pharmaceutical by 41.7% in the second quarter. Teachers Advisors LLC now owns 973,291 shares of the biotechnology company’s stock valued at $88,394,000 after buying an additional 286,249 shares during the last quarter. PDT Partners LLC acquired a new stake in shares of BioMarin Pharmaceutical in the second quarter valued at approximately $24,394,000. Finally, American Century Companies Inc. lifted its position in shares of BioMarin Pharmaceutical by 64.5% in the third quarter. American Century Companies Inc. now owns 614,862 shares of the biotechnology company’s stock valued at $57,225,000 after buying an additional 241,183 shares during the last quarter. 99.02% of the stock is owned by institutional investors.

Several research firms have recently weighed in on BMRN. Jefferies Group reaffirmed a “buy” rating and set a $116.00 price objective on shares of BioMarin Pharmaceutical in a research report on Tuesday, September 26th. Wedbush reaffirmed an “outperform” rating and set a $110.00 price objective on shares of BioMarin Pharmaceutical in a research report on Friday, December 22nd. Piper Jaffray Companies reaffirmed a “buy” rating and set a $113.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, September 21st. BMO Capital Markets reaffirmed a “buy” rating and set a $117.00 price objective on shares of BioMarin Pharmaceutical in a research report on Friday, October 20th. Finally, SunTrust Banks set a $115.00 price objective on BioMarin Pharmaceutical and gave the stock a “buy” rating in a research report on Thursday, October 19th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $112.32.

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About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc is a biotechnology company. The Company develops and commercializes pharmaceuticals for various diseases and medical conditions. As of December 31, 2016, the Company’s therapy portfolio consisted of five products, and multiple clinical and pre-clinical product candidates. Its commercial products include Aldurazyme (laronidase) for Mucopolysaccharidosis I (MPS I), Firdapse (amifampridine phosphate) for Lambert Eaton Myasthenic Syndrome (LEMS), Kuvan (sapropterin dihydrochloride) for phenylketonuria (PKU), Naglazyme (galsulfase) for Mucopolysaccharidosis VI (MPS VI) and Vimizim (elosulfase alpha) for Mucopolysaccharidosis IV Type A (MPS IV A).

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