Investors Sell Shares of BioMarin Pharmaceutical Inc. (BMRN) on Strength After Insider Selling
Investors sold shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) on strength during trading on Monday following insider selling activity. $29.60 million flowed into the stock on the tick-up and $40.63 million flowed out of the stock on the tick-down, for a money net flow of $11.03 million out of the stock. Of all equities tracked, BioMarin Pharmaceutical had the 0th highest net out-flow for the day. BioMarin Pharmaceutical traded up $0.41 for the day and closed at $85.45Specifically, VP Brian Mueller sold 287 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $100.00, for a total value of $28,700.00. Following the completion of the transaction, the vice president now owns 14,260 shares of the company’s stock, valued at approximately $1,426,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jean Jacques Bienaime sold 64,125 shares of the company’s stock in a transaction dated Friday, October 14th. The stock was sold at an average price of $86.96, for a total value of $5,576,310.00. Following the completion of the transaction, the chief executive officer now directly owns 378,184 shares of the company’s stock, valued at approximately $32,886,880.64. The disclosure for this sale can be found here. 2.50% of the stock is owned by corporate insiders.
A number of equities analysts recently weighed in on the company. Vetr raised BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating and set a $110.24 price target for the company in a report on Tuesday, August 9th. Wedbush reaffirmed a “neutral” rating and issued a $108.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, July 28th. Leerink Swann reaffirmed an “outperform” rating and issued a $127.00 price target on shares of BioMarin Pharmaceutical in a report on Friday, September 16th. Jefferies Group set a $116.00 price target on BioMarin Pharmaceutical and gave the stock a “buy” rating in a report on Thursday, July 28th. Finally, Credit Suisse Group AG set a $111.00 price target on BioMarin Pharmaceutical and gave the stock a “buy” rating in a report on Thursday, July 28th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $118.31.
The company has a 50-day moving average of $94.32 and a 200-day moving average of $89.71. The stock’s market capitalization is $13.97 billion.
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BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Thursday, August 4th. The company reported ($2.61) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.52) by $2.09. BioMarin Pharmaceutical had a negative net margin of 54.53% and a negative return on equity of 11.99%. The company had revenue of $300.10 million for the quarter, compared to analyst estimates of $278.75 million. During the same quarter in the previous year, the business posted ($0.51) earnings per share. BioMarin Pharmaceutical’s revenue was up 20.0% on a year-over-year basis. Equities research analysts predict that BioMarin Pharmaceutical Inc. will post ($3.95) EPS for the current year.
Large investors have recently bought and sold shares of the stock. National Pension Service increased its stake in BioMarin Pharmaceutical by 9.3% in the third quarter. National Pension Service now owns 127,109 shares of the company’s stock worth $11,760,000 after buying an additional 10,832 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of BioMarin Pharmaceutical by 29.6% in the third quarter. Nisa Investment Advisors LLC now owns 9,620 shares of the company’s stock valued at $890,000 after buying an additional 2,200 shares in the last quarter. Creative Planning increased its position in shares of BioMarin Pharmaceutical by 285.6% in the third quarter. Creative Planning now owns 13,786 shares of the company’s stock valued at $1,275,000 after buying an additional 10,211 shares in the last quarter. Catawba Capital Management VA bought a new position in shares of BioMarin Pharmaceutical during the third quarter valued at about $318,000. Finally, Independent Portfolio Consultants Inc. bought a new position in shares of BioMarin Pharmaceutical during the third quarter valued at about $121,000. Institutional investors own 93.08% of the company’s stock.
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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