BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) CAO Sells $92,618.40 in Stock

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) CAO Erin Burkhart sold 1,295 shares of the business’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $71.52, for a total transaction of $92,618.40. Following the completion of the sale, the chief accounting officer now owns 16,955 shares of the company’s stock, valued at $1,212,621.60. The trade was a 7.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Erin Burkhart also recently made the following trade(s):

• On Monday, February 24th, Erin Burkhart sold 1,344 shares of BioMarin Pharmaceutical stock. The stock was sold at an average price of $68.38, for a total transaction of $91,902.72.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN stock opened at $71.24 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 5.33. The company has a market capitalization of $13.59 billion, a P/E ratio of 32.38, a price-to-earnings-growth ratio of 0.61 and a beta of 0.33. The company’s 50 day moving average price is $66.58 and its two-hundred day moving average price is $68.12. BioMarin Pharmaceutical Inc. has a 52 week low of $60.63 and a 52 week high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.54 by $0.18. The firm had revenue of $747.31 million for the quarter, compared to the consensus estimate of $711.05 million. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. On average, analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BMRN. Piper Sandler boosted their price objective on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Cantor Fitzgerald restated an “overweight” rating and issued a $90.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. StockNews.com upgraded shares of BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 18th. Scotiabank upped their target price on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, February 20th. Finally, Bank of America upped their target price on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $94.00.

Institutional Trading of BioMarin Pharmaceutical

Several hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System raised its holdings in BioMarin Pharmaceutical by 2.7% during the 4th quarter. California State Teachers Retirement System now owns 273,761 shares of the biotechnology company’s stock worth $17,994,000 after buying an additional 7,094 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of BioMarin Pharmaceutical by 295.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 23,201 shares of the biotechnology company’s stock worth $1,525,000 after acquiring an additional 17,340 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ bought a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth approximately $4,367,000. PKO Investment Management Joint Stock Co bought a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth approximately $789,000. Finally, Siemens Fonds Invest GmbH bought a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth approximately $821,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

About BioMarin Pharmaceutical

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.