Insider Selling: BioMarin Pharmaceutical CFO Sells 2,229 Shares of Stock (BMRN)
BioMarin Pharmaceutical (NASDAQ:BMRN) CFO Daniel K. Spiegelman sold 2,229 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $64.00, for a total value of $142,656.00. Following the sale, the chief financial officer now directly owns 70,905 shares of the company’s stock, valued at approximately $4,537,920. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Credit Suisse upgraded shares of BioMarin Pharmaceutical from a “neutral” rating to an “outperform” rating in a research note on Monday, June 9th. They now have a $73.00 price target on the stock, up previously from $61.74. Separately, analysts at Zacks reiterated a “neutral” rating on shares of BioMarin Pharmaceutical in a research note on Monday, May 5th. They now have a $61.00 price target on the stock. Finally, analysts at Nomura reiterated a “neutral” rating on shares of BioMarin Pharmaceutical in a research note on Friday, May 2nd. They now have a $77.00 price target on the stock. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. BioMarin Pharmaceutical has a consensus rating of “Hold” and an average price target of $80.57.
Shares of BioMarin Pharmaceutical (NASDAQ:BMRN) traded up 0.48% during mid-day trading on Thursday, hitting $64.59. 368,462 shares of the company’s stock traded hands. BioMarin Pharmaceutical has a 52 week low of $55.04 and a 52 week high of $84.25. The stock’s 50-day moving average is $60.42 and its 200-day moving average is $67.09. The company’s market cap is $9.425 billion. BioMarin Pharmaceutical also was the target of a large decrease in short interest during the month of June. As of June 13th, there was short interest totalling 4,879,328 shares, a decrease of 14.9% from the May 30th total of 5,731,273 shares. Based on an average daily volume of 1,538,819 shares, the days-to-cover ratio is presently 3.2 days. Approximately 3.4% of the shares of the stock are short sold.
BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Thursday, May 1st. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.43. The company had revenue of $151.60 million for the quarter, compared to the consensus estimate of $145.16 million. During the same quarter in the previous year, the company posted ($0.31) earnings per share. The company’s revenue for the quarter was up 18.5% on a year-over-year basis. Analysts expect that BioMarin Pharmaceutical will post $-1.72 EPS for the current fiscal year.
BioMarin Pharmaceutical Inc (NASDAQ:BMRN) develops and commercializes pharmaceuticals for serious diseases and medical conditions.
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