Insider Selling: BioMarin Pharmaceutical CEO Sells 5,000 Shares of Stock (BMRN)
BioMarin Pharmaceutical (NASDAQ:BMRN) CEO Jean Jacques Bienaime unloaded 5,000 shares of the stock on the open market in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $70.00, for a total value of $350,000.00. Following the completion of the sale, the chief executive officer now directly owns 229,157 shares of the company’s stock, valued at approximately $16,040,990. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
BioMarin Pharmaceutical (NASDAQ:BMRN) traded up 1.14% during mid-day trading on Friday, hitting $70.16. 832,437 shares of the company’s stock traded hands. BioMarin Pharmaceutical has a 1-year low of $55.04 and a 1-year high of $84.25. The stock has a 50-day moving average of $62.77 and a 200-day moving average of $65.33. The company’s market cap is $10.322 billion.
BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Wednesday, July 30th. The company reported ($0.23) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.41) by $0.18. The company had revenue of $191.70 million for the quarter, compared to the consensus estimate of $159.70 million. During the same quarter in the prior year, the company posted ($0.16) earnings per share. The company’s quarterly revenue was up 40.1% on a year-over-year basis. Analysts expect that BioMarin Pharmaceutical will post $-1.23 EPS for the current fiscal year.
A number of analysts have recently weighed in on BMRN shares. Analysts at Nomura raised their price target on shares of BioMarin Pharmaceutical from $77.00 to $82.00 in a research note on Thursday, July 31st. They now have a “neutral” rating 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. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $82.46.
BioMarin Pharmaceutical Inc (NASDAQ:BMRN) develops and commercializes pharmaceuticals for serious diseases and medical conditions.
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