Insider Selling: BioMarin Pharmaceutical Inc. (BMRN) CEO Sells 10,000 Shares of Stock

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) CEO Jean Jacques Bienaime sold 10,000 shares of the stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $90.32, for a total value of $903,200.00. Following the transaction, the chief executive officer now owns 235,894 shares in the company, valued at approximately $21,305,946.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Jean Jacques Bienaime also recently made the following trade(s):

  • On Saturday, December 29th, Jean Jacques Bienaime sold 10,000 shares of BioMarin Pharmaceutical stock. The stock was sold at an average price of $89.61, for a total value of $896,100.00.
  • On Friday, December 29th, Jean Jacques Bienaime sold 20,000 shares of BioMarin Pharmaceutical stock. The stock was sold at an average price of $89.75, for a total value of $1,795,000.00.

BioMarin Pharmaceutical Inc. (NASDAQ BMRN) traded up $0.50 during midday trading on Tuesday, hitting $89.14. The stock had a trading volume of 1,484,997 shares, compared to its average volume of 1,336,750. The stock has a market capitalization of $15,650.00, a P/E ratio of -107.40 and a beta of 1.81. BioMarin Pharmaceutical Inc. has a 1-year low of $80.10 and a 1-year high of $100.51. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.81 and a current ratio of 4.91.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Thursday, October 26th. The biotechnology company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.06. The business had revenue of $334.18 million for the quarter, compared to the consensus estimate of $347.38 million. BioMarin Pharmaceutical had a negative return on equity of 4.60% and a negative net margin of 12.45%. The business’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.02 earnings per share. research analysts forecast that BioMarin Pharmaceutical Inc. will post -0.64 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in BMRN. Toronto Dominion Bank lifted its position in BioMarin Pharmaceutical by 12.9% during the second quarter. Toronto Dominion Bank now owns 2,124 shares of the biotechnology company’s stock worth $193,000 after buying an additional 243 shares in the last quarter. Commerce Bank purchased a new position in BioMarin Pharmaceutical during the third quarter worth approximately $209,000. Cambridge Investment Research Advisors Inc. purchased a new position in BioMarin Pharmaceutical during the second quarter worth approximately $213,000. Teacher Retirement System of Texas purchased a new position in BioMarin Pharmaceutical during the third quarter worth approximately $220,000. Finally, First Republic Investment Management Inc. purchased a new position in BioMarin Pharmaceutical during the third quarter worth approximately $220,000. Hedge funds and other institutional investors own 99.02% of the company’s stock.

A number of equities analysts have issued reports on BMRN shares. Piper Jaffray Companies started coverage on BioMarin Pharmaceutical in a research report on Thursday, September 14th. They set an “overweight” rating and a $113.00 price target on the stock. Royal Bank of Canada started coverage on BioMarin Pharmaceutical in a research report on Thursday, September 14th. They set a “sector perform” rating and a $93.00 price target on the stock. BMO Capital Markets reiterated a “buy” rating on shares of BioMarin Pharmaceutical in a research report on Friday, September 15th. Jefferies Group reiterated a “buy” rating and set a $116.00 price target on shares of BioMarin Pharmaceutical in a research report on Tuesday, September 26th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $117.00 price target (up previously from $115.00) on shares of BioMarin Pharmaceutical in a research report on Friday, October 6th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $112.44.

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About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc is a biotechnology company. The Company develops and commercializes pharmaceuticals for various diseases and medical conditions. As of December 31, 2016, the Company’s therapy portfolio consisted of five products, and multiple clinical and pre-clinical product candidates. Its commercial products include Aldurazyme (laronidase) for Mucopolysaccharidosis I (MPS I), Firdapse (amifampridine phosphate) for Lambert Eaton Myasthenic Syndrome (LEMS), Kuvan (sapropterin dihydrochloride) for phenylketonuria (PKU), Naglazyme (galsulfase) for Mucopolysaccharidosis VI (MPS VI) and Vimizim (elosulfase alpha) for Mucopolysaccharidosis IV Type A (MPS IV A).

Insider Buying and Selling by Quarter for BioMarin Pharmaceutical (NASDAQ:BMRN)

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