Insider Selling: Daniel K. Spiegelman Sells 16,000 Shares of BioMarin Pharmaceutical Stock (BMRN)
BioMarin Pharmaceutical (NASDAQ:BMRN) CFO Daniel K. Spiegelman sold 16,000 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $69.83, for a total value of $1,117,280.00. Following the completion of the sale, the chief financial officer now directly owns 68,676 shares of the company’s stock, valued at approximately $4,795,645. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on BMRN. 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 assigned a buy rating to the company’s stock. BioMarin Pharmaceutical currently has a consensus rating of “Buy” and an average target price of $82.46.
BioMarin Pharmaceutical (NASDAQ:BMRN) traded up 0.14% during mid-day trading on Wednesday, hitting $70.49. The stock had a trading volume of 755,546 shares. BioMarin Pharmaceutical has a 52 week low of $55.04 and a 52 week high of $84.25. The stock has a 50-day moving average of $64.6 and a 200-day moving average of $65.25. The company’s market cap is $10.370 billion.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings data on Wednesday, July 30th. The company reported ($0.23) earnings per share for the quarter, beating the analysts’ 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 last year, the company posted ($0.16) earnings per share. BioMarin Pharmaceutical’s revenue was up 40.1% compared to the same quarter last year. Analysts expect that BioMarin Pharmaceutical will post $-1.28 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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