BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) CEO Jean Jacques Bienaime sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, December 28th. The stock was sold at an average price of $88.77, for a total transaction of $133,155.00. Following the sale, the chief executive officer now directly owns 297,052 shares of the company’s stock, valued at $26,369,306.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of BMRN opened at $87.69 on Friday. The company has a current ratio of 3.20, a quick ratio of 2.38 and a debt-to-equity ratio of 0.26. The firm has a fifty day simple moving average of $81.59 and a 200 day simple moving average of $92.87. BioMarin Pharmaceutical Inc. has a 12 month low of $68.25 and a 12 month high of $131.95. The stock has a market capitalization of $15.92 billion, a price-to-earnings ratio of 104.77, a PEG ratio of 3.85 and a beta of 0.67.
BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Thursday, November 5th. The biotechnology company reported $4.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $4.02. BioMarin Pharmaceutical had a net margin of 45.74% and a return on equity of 4.34%. The firm had revenue of $476.78 million for the quarter, compared to analyst estimates of $454.64 million. During the same period in the prior year, the firm posted $0.30 earnings per share. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. As a group, research analysts predict that BioMarin Pharmaceutical Inc. will post 0.6 earnings per share for the current fiscal year.
A number of equities research analysts recently weighed in on the stock. SVB Leerink dropped their price target on shares of BioMarin Pharmaceutical from $113.00 to $108.00 and set an “outperform” rating for the company in a research note on Friday, November 6th. Truist decreased their price objective on shares of BioMarin Pharmaceutical from $130.00 to $125.00 in a report on Thursday, September 10th. BidaskClub upgraded shares of BioMarin Pharmaceutical from a “strong sell” rating to a “sell” rating in a report on Tuesday, December 15th. Finally, Wedbush restated a “buy” rating on shares of BioMarin Pharmaceutical in a report on Thursday, September 10th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the stock. BioMarin Pharmaceutical has an average rating of “Hold” and an average price target of $118.22.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Summit X LLC bought a new stake in BioMarin Pharmaceutical during the third quarter worth $30,000. Smithfield Trust Co. acquired a new stake in shares of BioMarin Pharmaceutical in the 2nd quarter valued at approximately $25,000. Prospera Financial Services Inc acquired a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter valued at approximately $29,000. Fifth Third Bancorp boosted its stake in shares of BioMarin Pharmaceutical by 1,081.8% in the 3rd quarter. Fifth Third Bancorp now owns 390 shares of the biotechnology company’s stock valued at $30,000 after purchasing an additional 357 shares in the last quarter. Finally, Glenmede Trust Co. NA boosted its stake in shares of BioMarin Pharmaceutical by 46.8% in the 2nd quarter. Glenmede Trust Co. NA now owns 461 shares of the biotechnology company’s stock valued at $56,000 after purchasing an additional 147 shares in the last quarter. 89.36% of the stock is currently owned by hedge funds and other institutional investors.
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 to treat mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.
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