Insider Selling: BioMarin Pharmaceutical (NASDAQ:BMRN) EVP Sells 3,281 Shares of Stock
by Amy Steele · The Cerbat GemBioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Get Free Report) EVP Gregory Friberg sold 3,281 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $53.85, for a total transaction of $176,681.85. Following the transaction, the executive vice president owned 51,818 shares of the company’s stock, valued at $2,790,399.30. This trade represents a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
BioMarin Pharmaceutical Price Performance
Shares of BMRN traded down $1.48 during mid-day trading on Monday, reaching $52.58. 2,466,404 shares of the stock traded hands, compared to its average volume of 2,043,568. The firm has a fifty day moving average price of $56.06 and a 200 day moving average price of $56.33. The company has a market cap of $10.16 billion, a price-to-earnings ratio of 38.38, a price-to-earnings-growth ratio of 0.40 and a beta of 0.23. The company has a current ratio of 5.81, a quick ratio of 4.20 and a debt-to-equity ratio of 0.23. BioMarin Pharmaceutical Inc. has a 1 year low of $50.76 and a 1 year high of $66.28.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on BMRN. HC Wainwright reiterated a “neutral” rating and issued a $55.00 target price on shares of BioMarin Pharmaceutical in a research report on Tuesday, May 5th. Canaccord Genuity Group upped their target price on shares of BioMarin Pharmaceutical from $104.00 to $116.00 and gave the stock a “buy” rating in a research report on Thursday. Truist Financial upgraded shares of BioMarin Pharmaceutical to a “strong-buy” rating in a research report on Wednesday, March 25th. Stifel Nicolaus set a $68.00 target price on shares of BioMarin Pharmaceutical in a research report on Tuesday, February 24th. Finally, The Goldman Sachs Group began coverage on shares of BioMarin Pharmaceutical in a research report on Monday. They issued a “neutral” rating and a $69.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.91.
Get Our Latest Research Report on BioMarin Pharmaceutical
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Activest Wealth Management purchased a new position in BioMarin Pharmaceutical in the fourth quarter worth $26,000. Quent Capital LLC bought a new stake in BioMarin Pharmaceutical in the third quarter worth $28,000. CIBC Private Wealth Group LLC lifted its stake in BioMarin Pharmaceutical by 38.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock worth $39,000 after purchasing an additional 179 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in BioMarin Pharmaceutical in the third quarter worth $40,000. Finally, Smartleaf Asset Management LLC lifted its stake in BioMarin Pharmaceutical by 92.5% in the third quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 360 shares during the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.
About BioMarin Pharmaceutical
BioMarin Pharmaceutical Inc is a biopharmaceutical company specializing in the development and commercialization of therapies for rare genetic and metabolic diseases. The company focuses on addressing unmet medical needs by leveraging enzyme replacement therapy, small molecule pharmacological chaperones and gene therapy technologies. Headquartered in Novato, California, BioMarin operates research and development facilities in the United States and Europe.
The company’s commercial portfolio includes several approved therapies targeting inherited disorders.