Investors sold shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) on strength during trading hours on Monday after an insider sold shares in the company. $29.60 million flowed into the stock on the tick-up and $40.63 million flowed out of the stock on the tick-down, for a money net flow of $11.03 million out of the stock. Of all stocks tracked, BioMarin Pharmaceutical had the 0th highest net out-flow for the day. BioMarin Pharmaceutical traded up $0.41 for the day and closed at $85.45Specifically, CEO Jean Jacques Bienaime sold 64,125 shares of the company’s stock in a transaction on Friday, October 14th. The stock was sold at an average price of $86.96, for a total transaction of $5,576,310.00. Following the transaction, the chief executive officer now directly owns 378,184 shares in the company, valued at $32,886,880.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brian Mueller sold 287 shares of the company’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $100.00, for a total value of $28,700.00. Following the transaction, the vice president now owns 14,260 shares in the company, valued at $1,426,000. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.
A number of research analysts have commented on BMRN shares. Vetr upgraded BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating and set a $111.64 price target on the stock in a research note on Wednesday, August 24th. Wedbush restated a “neutral” rating and set a $108.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, July 28th. Jefferies Group restated a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Wednesday, August 17th. Zacks Investment Research upgraded BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and set a $111.00 price target on the stock in a research note on Tuesday, August 9th. Finally, Cowen and Company set a $150.00 price objective on BioMarin Pharmaceutical and gave the company a “buy” rating in a research note on Thursday, September 8th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $118.31.
The firm has a 50 day moving average of $94.32 and a 200 day moving average of $89.71. The firm’s market capitalization is $13.97 billion.
BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Thursday, August 4th. The company reported ($2.61) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.52) by $2.09. The business had revenue of $300.10 million for the quarter, compared to analyst estimates of $278.75 million. BioMarin Pharmaceutical had a negative net margin of 54.53% and a negative return on equity of 11.99%. The business’s revenue was up 20.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.51) EPS. Analysts expect that BioMarin Pharmaceutical Inc. will post ($3.95) EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of BMRN. Prudential Financial Inc. raised its position in shares of BioMarin Pharmaceutical by 31.2% in the first quarter. Prudential Financial Inc. now owns 141,570 shares of the company’s stock worth $11,677,000 after buying an additional 33,700 shares in the last quarter. NN Investment Partners Holdings N.V. purchased a new position in shares of BioMarin Pharmaceutical during the first quarter worth approximately $1,327,000. Aviva PLC raised its position in shares of BioMarin Pharmaceutical by 1.2% in the first quarter. Aviva PLC now owns 78,847 shares of the company’s stock worth $6,503,000 after buying an additional 924 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of BioMarin Pharmaceutical by 4.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,127 shares of the company’s stock worth $505,000 after buying an additional 282 shares in the last quarter. Finally, State Street Corp raised its position in shares of BioMarin Pharmaceutical by 5.6% in the first quarter. State Street Corp now owns 3,286,743 shares of the company’s stock worth $271,074,000 after buying an additional 175,733 shares in the last quarter. Hedge funds and other institutional investors own 93.08% of the company’s stock.
About BioMarin Pharmaceutical
BioMarin Pharmaceutical Inc (BioMarin) develops and commercializes pharmaceuticals for various diseases and medical conditions. The Company’s product portfolio consists of approximately five approved products, and multiple clinical and pre-clinical product candidates. Its approved products include Vimizim (elosulfase alpha), Naglazyme (galsulfase), Kuvan (sapropterin dihydrochloride), Aldurazyme (laronidase) and Firdapse (amifampridine phosphate).
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