Insider Selling: BioMarin Pharmaceutical Inc. (BMRN) CFO Sells $990,000.00 in Stock

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) CFO Daniel K. Spiegelman sold 10,000 shares of BioMarin Pharmaceutical stock in a transaction dated Friday, June 22nd. The shares were sold at an average price of $99.00, for a total value of $990,000.00. Following the completion of the transaction, the chief financial officer now directly owns 51,542 shares of the company’s stock, valued at $5,102,658. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of BMRN stock opened at $91.15 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.90 and a quick ratio of 2.29. The stock has a market capitalization of $16.21 billion, a P/E ratio of -136.04 and a beta of 1.71. BioMarin Pharmaceutical Inc. has a 12 month low of $75.81 and a 12 month high of $99.76.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Wednesday, April 25th. The biotechnology company reported ($0.25) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.08). The firm had revenue of $373.45 million during the quarter, compared to analyst estimates of $348.73 million. BioMarin Pharmaceutical had a negative return on equity of 3.01% and a negative net margin of 10.48%. BioMarin Pharmaceutical’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.20 earnings per share. equities analysts anticipate that BioMarin Pharmaceutical Inc. will post -0.12 earnings per share for the current fiscal year.

BMRN has been the subject of a number of research analyst reports. JPMorgan Chase & Co. set a $127.00 price target on BioMarin Pharmaceutical and gave the company a “buy” rating in a report on Thursday, April 26th. Zacks Investment Research raised BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a report on Tuesday, April 24th. Credit Suisse Group reaffirmed a “buy” rating and issued a $116.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, March 29th. Canaccord Genuity initiated coverage on BioMarin Pharmaceutical in a report on Wednesday, May 16th. They issued a “buy” rating and a $101.00 price target for the company. Finally, Citigroup lifted their price target on BioMarin Pharmaceutical to $108.00 and gave the company a “buy” rating in a report on Tuesday, May 29th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. BioMarin Pharmaceutical currently has a consensus rating of “Buy” and an average price target of $112.50.

Hedge funds have recently made changes to their positions in the stock. Thrivent Financial for Lutherans grew its position in shares of BioMarin Pharmaceutical by 581.0% during the 1st quarter. Thrivent Financial for Lutherans now owns 1,224,776 shares of the biotechnology company’s stock worth $99,293,000 after buying an additional 1,044,921 shares during the period. Carillon Tower Advisers Inc. acquired a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth about $22,892,000. USS Investment Management Ltd grew its position in shares of BioMarin Pharmaceutical by 22.9% during the 1st quarter. USS Investment Management Ltd now owns 1,339,671 shares of the biotechnology company’s stock worth $111,869,000 after buying an additional 249,738 shares during the period. State of Wisconsin Investment Board grew its position in shares of BioMarin Pharmaceutical by 187.8% during the 1st quarter. State of Wisconsin Investment Board now owns 263,571 shares of the biotechnology company’s stock worth $21,368,000 after buying an additional 171,994 shares during the period. Finally, Millennium Management LLC grew its position in shares of BioMarin Pharmaceutical by 33.7% during the 4th quarter. Millennium Management LLC now owns 634,864 shares of the biotechnology company’s stock worth $56,611,000 after buying an additional 160,132 shares during the period.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical, Inc, a biotechnology company, develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Aldurazyme that is used for the treatment of patients with mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Firdapse for Lambert Eaton Myasthenic Syndrome.

Insider Buying and Selling by Quarter for BioMarin Pharmaceutical (NASDAQ:BMRN)

Receive News & Ratings for BioMarin Pharmaceutical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioMarin Pharmaceutical and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply