Insider Selling: BioMarin Pharmaceutical Inc. (BMRN) CEO Sells 64,125 Shares of Stock
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) CEO Jean Jacques Bienaime sold 64,125 shares of BioMarin Pharmaceutical stock in a transaction on Friday, October 14th. The shares were sold at an average price of $86.96, for a total transaction of $5,576,310.00. Following the completion of the sale, the chief executive officer now owns 378,184 shares of the company’s stock, valued at approximately $32,886,880.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Jean Jacques Bienaime also recently made the following trade(s):
- On Thursday, September 29th, Jean Jacques Bienaime sold 53,125 shares of BioMarin Pharmaceutical stock. The shares were sold at an average price of $93.65, for a total transaction of $4,975,156.25.
- On Friday, September 16th, Jean Jacques Bienaime sold 137,368 shares of BioMarin Pharmaceutical stock. The shares were sold at an average price of $95.34, for a total transaction of $13,096,665.12.
- On Tuesday, August 16th, Jean Jacques Bienaime sold 41,666 shares of BioMarin Pharmaceutical stock. The shares were sold at an average price of $91.49, for a total transaction of $3,812,022.34.
Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) traded up 0.48% during midday trading on Monday, reaching $85.45. The company had a trading volume of 1,399,434 shares. BioMarin Pharmaceutical Inc. has a 12-month low of $62.12 and a 12-month high of $118.48. The firm’s market capitalization is $13.97 billion. The company has a 50 day moving average of $94.32 and a 200 day moving average of $89.71.
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BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($2.61) EPS for the quarter, missing the consensus estimate of ($0.52) by $2.09. BioMarin Pharmaceutical had a negative return on equity of 11.99% and a negative net margin of 54.53%. The company earned $300.10 million during the quarter, compared to the consensus estimate of $278.75 million. During the same period last year, the business earned ($0.51) EPS. The firm’s quarterly revenue was up 20.0% compared to the same quarter last year. Analysts anticipate that BioMarin Pharmaceutical Inc. will post ($3.95) EPS for the current year.
BMRN has been the subject of several research analyst reports. Goldman Sachs Group Inc. upgraded shares of BioMarin Pharmaceutical to a “neutral” rating in a research note on Friday, October 7th. Leerink Swann reissued an “outperform” rating and issued a $127.00 price target on shares of BioMarin Pharmaceutical in a research report on Friday, September 16th. Piper Jaffray Cos. reissued an “overweight” rating on shares of BioMarin Pharmaceutical in a research report on Friday, August 19th. Vetr raised shares of BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating and set a $111.64 price target for the company in a research report on Wednesday, August 24th. Finally, Zacks Investment Research raised shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and set a $106.00 price target for the company in a research report on Tuesday, October 4th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. BioMarin Pharmaceutical has a consensus rating of “Buy” and an average price target of $118.31.
Several hedge funds and other institutional investors have recently bought and sold shares of BMRN. Rockefeller Financial Services Inc. bought a new position in BioMarin Pharmaceutical during the second quarter valued at approximately $111,000. Independent Portfolio Consultants Inc. acquired a new stake in shares of BioMarin Pharmaceutical during the third quarter valued at about $121,000. Meeder Asset Management Inc. acquired a new stake in shares of BioMarin Pharmaceutical during the second quarter valued at about $140,000. Mutual of America Capital Management LLC increased its stake in shares of BioMarin Pharmaceutical by 930.0% in the second quarter. Mutual of America Capital Management LLC now owns 1,854 shares of the company’s stock valued at $144,000 after buying an additional 1,674 shares during the period. Finally, LS Investment Advisors LLC increased its stake in shares of BioMarin Pharmaceutical by 13.5% in the second quarter. LS Investment Advisors LLC now owns 1,946 shares of the company’s stock valued at $151,000 after buying an additional 231 shares during the period. 93.08% of the stock is currently owned by hedge funds and other institutional investors.
About BioMarin Pharmaceutical
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).
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