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 document filed with the Securities & Exchange Commission, which is available at the SEC website.

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. (BMRN) opened at $88.37 on Thursday. BioMarin Pharmaceutical Inc. has a 52 week low of $80.10 and a 52 week high of $100.51. The company has a quick ratio of 3.81, a current ratio of 4.91 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $15,520.00, a price-to-earnings ratio of -106.47 and a beta of 1.81.

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

Institutional investors and hedge funds have recently modified their holdings of the company. Toronto Dominion Bank increased its stake in shares of BioMarin Pharmaceutical by 12.9% in the 2nd quarter. Toronto Dominion Bank now owns 2,124 shares of the biotechnology company’s stock valued at $193,000 after purchasing an additional 243 shares during the last quarter. Commerce Bank bought a new position in shares of BioMarin Pharmaceutical in the 3rd quarter valued at $209,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of BioMarin Pharmaceutical in the 2nd quarter valued at $213,000. Teacher Retirement System of Texas bought a new position in shares of BioMarin Pharmaceutical in the 3rd quarter valued at $220,000. Finally, First Republic Investment Management Inc. bought a new position in shares of BioMarin Pharmaceutical in the 3rd quarter valued at $220,000. Institutional investors own 99.02% of the company’s stock.

A number of brokerages have recently weighed in on BMRN. SunTrust Banks set a $115.00 target price on BioMarin Pharmaceutical and gave the stock a “buy” rating in a research note on Thursday, October 19th. JPMorgan Chase & Co. set a $130.00 target price on BioMarin Pharmaceutical and gave the stock a “buy” rating in a research note on Sunday, October 29th. Leerink Swann reiterated an “outperform” rating and set a $142.00 target price (up previously from $136.00) on shares of BioMarin Pharmaceutical in a research note on Thursday, October 19th. Jefferies Group reiterated a “buy” rating and set a $116.00 target price on shares of BioMarin Pharmaceutical in a research note on Tuesday, September 26th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $113.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, September 21st. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $112.32.

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BioMarin Pharmaceutical Company Profile

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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