Insider Selling: BioMarin Pharmaceutical Inc. (BMRN) CEO Sells 10,000 Shares of Stock

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) CEO Jean Jacques Bienaime sold 10,000 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $90.32, for a total value of $903,200.00. Following the transaction, the chief executive officer now owns 235,894 shares in the company, valued at approximately $21,305,946.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Jean Jacques Bienaime also recently made the following trade(s):

  • On Saturday, December 29th, Jean Jacques Bienaime sold 10,000 shares of BioMarin Pharmaceutical stock. The stock was sold at an average price of $89.61, for a total value of $896,100.00.
  • On Friday, December 29th, Jean Jacques Bienaime sold 20,000 shares of BioMarin Pharmaceutical stock. The stock was sold at an average price of $89.75, for a total value of $1,795,000.00.

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) traded up $0.50 during midday trading on Tuesday, hitting $89.14. The stock had a trading volume of 1,484,997 shares, compared to its average volume of 1,336,750. BioMarin Pharmaceutical Inc. has a twelve month low of $80.10 and a twelve month high of $100.51. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.91 and a quick ratio of 3.81. The firm has a market capitalization of $15,650.00, a PE ratio of -107.40 and a beta of 1.81.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Thursday, October 26th. The biotechnology company reported ($0.07) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.06. BioMarin Pharmaceutical had a negative return on equity of 4.60% and a negative net margin of 12.45%. The business had revenue of $334.18 million during the quarter, compared to analysts’ expectations of $347.38 million. During the same period in the previous year, the firm posted $0.02 earnings per share. The company’s revenue was up 19.4% on a year-over-year basis. analysts expect that BioMarin Pharmaceutical Inc. will post -0.64 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of BMRN. Schwab Charles Investment Management Inc. grew its stake in shares of BioMarin Pharmaceutical by 8.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 298,243 shares of the biotechnology company’s stock valued at $27,087,000 after buying an additional 22,433 shares in the last quarter. Comerica Bank grew its stake in shares of BioMarin Pharmaceutical by 1.0% in the second quarter. Comerica Bank now owns 7,358 shares of the biotechnology company’s stock valued at $662,000 after buying an additional 76 shares in the last quarter. Prudential Financial Inc. grew its stake in shares of BioMarin Pharmaceutical by 2.9% in the second quarter. Prudential Financial Inc. now owns 145,170 shares of the biotechnology company’s stock valued at $13,185,000 after buying an additional 4,026 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of BioMarin Pharmaceutical in the second quarter valued at $213,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of BioMarin Pharmaceutical in the second quarter valued at $3,015,000. 99.02% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts recently commented on BMRN shares. Piper Jaffray Companies started coverage on BioMarin Pharmaceutical in a research report on Thursday, September 14th. They set an “overweight” rating and a $113.00 price objective on the stock. Royal Bank of Canada began coverage on BioMarin Pharmaceutical in a research report on Thursday, September 14th. They set a “sector perform” rating and a $93.00 price objective on the stock. BMO Capital Markets reissued a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Friday, September 15th. Jefferies Group reissued a “buy” rating and set a $116.00 target price on shares of BioMarin Pharmaceutical in a research note on Tuesday, September 26th. Finally, Morgan Stanley reissued an “overweight” rating and set a $117.00 target price (up previously from $115.00) on shares of BioMarin Pharmaceutical in a research note on Friday, October 6th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $112.44.

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BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical Inc is a biotechnology company. The Company develops and commercializes pharmaceuticals for various diseases and medical conditions. As of December 31, 2016, the Company’s therapy portfolio consisted of five products, and multiple clinical and pre-clinical product candidates. Its commercial products include Aldurazyme (laronidase) for Mucopolysaccharidosis I (MPS I), Firdapse (amifampridine phosphate) for Lambert Eaton Myasthenic Syndrome (LEMS), Kuvan (sapropterin dihydrochloride) for phenylketonuria (PKU), Naglazyme (galsulfase) for Mucopolysaccharidosis VI (MPS VI) and Vimizim (elosulfase alpha) for Mucopolysaccharidosis IV Type A (MPS IV A).

Insider Buying and Selling by Quarter for BioMarin Pharmaceutical (NASDAQ:BMRN)

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