An issue of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) debt fell 1% as a percentage of its face value during trading on Wednesday after an insider sold shares in the company. The high-yield debt issue has a 0.75% coupon and is set to mature on October 15, 2018. The bonds in the issue are now trading at $122.71 and were trading at $122.96 one week ago. Price changes in a company’s debt in credit markets sometimes predict parallel changes in its share price. Specifically, CEO Jean Jacques Bienaime sold 137,368 shares of the business’s stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $95.34, for a total transaction of $13,096,665.12. Following the completion of the transaction, the chief executive officer now owns 421,161 shares in the company, valued at $40,153,489.74. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director V Bryan Lawlis sold 6,400 shares of the business’s stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $95.01, for a total transaction of $608,064.00. Following the transaction, the director now owns 20,260 shares of the company’s stock, valued at approximately $1,924,902.60. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.

A number of brokerages recently issued reports on BMRN. Goldman Sachs Group Inc. restated a “buy” rating and set a $126.00 price objective on shares of BioMarin Pharmaceutical in a report on Wednesday, June 1st. Royal Bank Of Canada restated a “buy” rating on shares of BioMarin Pharmaceutical in a report on Tuesday, May 31st. Leerink Swann restated a “buy” rating on shares of BioMarin Pharmaceutical in a report on Wednesday, June 1st. Cowen and Company restated a “buy” rating on shares of BioMarin Pharmaceutical in a report on Thursday, July 28th. Finally, Oppenheimer Holdings Inc. reiterated a “hold” rating and issued a $99.00 price target on shares of BioMarin Pharmaceutical in a report on Wednesday, June 1st. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $120.61.

The company’s market cap is $15.95 billion. The firm’s 50-day moving average is $95.65 and its 200 day moving average is $88.34.

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BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results on Thursday, August 4th. The company reported ($2.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by $2.09. The business had revenue of $300.10 million for the quarter, compared to the consensus estimate of $278.75 million. BioMarin Pharmaceutical had a negative net margin of 54.53% and a negative return on equity of 11.99%. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period last year, the business posted ($0.51) EPS. On average, equities research analysts predict that BioMarin Pharmaceutical Inc. will post ($3.95) EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. increased its stake in shares of BioMarin Pharmaceutical by 108.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,457 shares of the company’s stock valued at $191,000 after buying an additional 1,281 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of BioMarin Pharmaceutical by 8.7% in the second quarter. Public Employees Retirement System of Ohio now owns 87,981 shares of the company’s stock valued at $6,845,000 after buying an additional 7,047 shares during the period. Perigon Wealth Management LLC acquired a new stake in shares of BioMarin Pharmaceutical during the second quarter valued at about $321,000. Calvert Investment Management Inc. increased its stake in shares of BioMarin Pharmaceutical by 5.1% in the second quarter. Calvert Investment Management Inc. now owns 9,734 shares of the company’s stock valued at $757,000 after buying an additional 476 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of BioMarin Pharmaceutical by 3.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 225,119 shares of the company’s stock valued at $17,515,000 after buying an additional 6,906 shares during the period. 93.02% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical Inc (BioMarin) develops and commercializes pharmaceuticals for various diseases and medical conditions. The Company’s product portfolio consists of approximately five approved products, and multiple clinical and pre-clinical product candidates. Its approved products include Vimizim (elosulfase alpha), Naglazyme (galsulfase), Kuvan (sapropterin dihydrochloride), Aldurazyme (laronidase) and Firdapse (amifampridine phosphate).

5 Day Chart for NASDAQ:BMRN

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