BioMarin Pharmaceutical (NASDAQ:BMRN) EVP Sells $996,743.56 in Stock

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) EVP Charles Greg Guyer sold 16,486 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $60.46, for a total value of $996,743.56. Following the completion of the sale, the executive vice president directly owned 79,953 shares of the company’s stock, valued at approximately $4,833,958.38. This represents a 17.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

BioMarin Pharmaceutical Stock Down 2.1%

Shares of BMRN traded down $1.25 during mid-day trading on Thursday, hitting $59.07. 1,940,382 shares of the company traded hands, compared to its average volume of 2,299,140. BioMarin Pharmaceutical Inc. has a 1-year low of $50.76 and a 1-year high of $73.18. The company has a quick ratio of 3.50, a current ratio of 5.21 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $11.36 billion, a PE ratio of 33.19, a price-to-earnings-growth ratio of 0.53 and a beta of 0.25. The business has a 50 day moving average of $58.98 and a 200 day moving average of $56.34.

Analysts Set New Price Targets

Several research firms have weighed in on BMRN. HC Wainwright dropped their target price on shares of BioMarin Pharmaceutical from $60.00 to $55.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 25th. Oppenheimer decreased their price target on shares of BioMarin Pharmaceutical from $98.00 to $95.00 and set an “outperform” rating for the company in a report on Tuesday, February 24th. Wells Fargo & Company lifted their price objective on shares of BioMarin Pharmaceutical from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Leerink Partners lowered shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $82.00 to $60.00 in a report on Wednesday, December 3rd. Finally, Sanford C. Bernstein upped their target price on BioMarin Pharmaceutical from $90.00 to $94.00 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. Seventeen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and an average price target of $90.00.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Activest Wealth Management purchased a new stake in BioMarin Pharmaceutical in the fourth quarter valued at $26,000. Quent Capital LLC acquired a new stake in BioMarin Pharmaceutical during the 3rd quarter worth about $28,000. CIBC Private Wealth Group LLC raised its stake in shares of BioMarin Pharmaceutical by 38.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock valued at $39,000 after buying an additional 179 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of BioMarin Pharmaceutical by 92.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock valued at $40,000 after buying an additional 360 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of BioMarin Pharmaceutical in the 3rd quarter valued at about $40,000. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical Inc is a biopharmaceutical company specializing in the development and commercialization of therapies for rare genetic and metabolic diseases. The company focuses on addressing unmet medical needs by leveraging enzyme replacement therapy, small molecule pharmacological chaperones and gene therapy technologies. Headquartered in Novato, California, BioMarin operates research and development facilities in the United States and Europe.

The company’s commercial portfolio includes several approved therapies targeting inherited disorders.