Erin Burkhart Sells 2,286 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Stock

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) CAO Erin Burkhart sold 2,286 shares of the stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $90.00, for a total transaction of $205,740.00. Following the completion of the transaction, the chief accounting officer now directly owns 16,156 shares of the company’s stock, valued at $1,454,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

BioMarin Pharmaceutical Stock Performance

Shares of BioMarin Pharmaceutical stock traded up $0.76 on Friday, hitting $92.22. 2,348,473 shares of the company’s stock were exchanged, compared to its average volume of 1,347,463. The stock has a market capitalization of $17.40 billion, a PE ratio of 104.58, a PEG ratio of 1.72 and a beta of 0.31. BioMarin Pharmaceutical Inc. has a 1 year low of $76.02 and a 1 year high of $100.38. The company has a 50-day simple moving average of $87.37 and a 200-day simple moving average of $89.03. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.57 and a current ratio of 2.51.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Thursday, February 22nd. The biotechnology company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.44 by $0.05. The firm had revenue of $646.21 million for the quarter, compared to the consensus estimate of $639.53 million. BioMarin Pharmaceutical had a net margin of 6.93% and a return on equity of 5.01%. The company’s revenue was up 20.2% on a year-over-year basis. During the same period last year, the firm earned $0.11 EPS. As a group, equities analysts anticipate that BioMarin Pharmaceutical Inc. will post 1.93 EPS for the current year.

Institutional Trading of BioMarin Pharmaceutical

Several institutional investors and hedge funds have recently modified their holdings of BMRN. Capital Research Global Investors raised its position in shares of BioMarin Pharmaceutical by 79.0% during the 4th quarter. Capital Research Global Investors now owns 10,774,641 shares of the biotechnology company’s stock valued at $1,038,907,000 after purchasing an additional 4,756,671 shares during the period. Norges Bank bought a new stake in shares of BioMarin Pharmaceutical in the 4th quarter worth about $324,098,000. Barclays PLC increased its holdings in shares of BioMarin Pharmaceutical by 31.6% in the 3rd quarter. Barclays PLC now owns 5,573,157 shares of the biotechnology company’s stock worth $493,111,000 after buying an additional 1,336,886 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of BioMarin Pharmaceutical by 1,832.5% during the 3rd quarter. Toronto Dominion Bank now owns 907,754 shares of the biotechnology company’s stock worth $80,318,000 after purchasing an additional 860,782 shares during the period. Finally, Viking Global Investors LP boosted its stake in shares of BioMarin Pharmaceutical by 16.0% during the 4th quarter. Viking Global Investors LP now owns 4,889,454 shares of the biotechnology company’s stock worth $471,441,000 after purchasing an additional 673,998 shares during the period. 98.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BMRN has been the subject of a number of research reports. Robert W. Baird decreased their price target on shares of BioMarin Pharmaceutical from $127.00 to $104.00 and set an “outperform” rating for the company in a research note on Tuesday, January 30th. Stifel Nicolaus reissued a “buy” rating and issued a $101.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, December 21st. Canaccord Genuity Group reissued a “hold” rating and issued a $91.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, February 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $100.00 target price on shares of BioMarin Pharmaceutical in a research note on Friday, February 23rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $100.00 target price on shares of BioMarin Pharmaceutical in a research note on Friday, February 23rd. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $107.61.

BioMarin Pharmaceutical Company Profile

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.