BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) EVP Charles Greg Guyer Sells 5,278 Shares

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) EVP Charles Greg Guyer sold 5,278 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total value of $350,300.86. Following the transaction, the executive vice president now directly owns 68,909 shares of the company’s stock, valued at approximately $4,573,490.33. The trade was a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

BioMarin Pharmaceutical Trading Down 1.1 %

BMRN traded down $0.72 during trading on Friday, hitting $64.88. 77,189 shares of the stock were exchanged, compared to its average volume of 1,823,237. BioMarin Pharmaceutical Inc. has a 1 year low of $64.56 and a 1 year high of $99.56. The firm has a 50 day simple moving average of $70.85 and a 200 day simple moving average of $79.28. The firm has a market cap of $12.36 billion, a price-to-earnings ratio of 38.85, a P/E/G ratio of 0.66 and a beta of 0.31. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 4.27.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The company had revenue of $746.00 million during the quarter, compared to analysts’ expectations of $703.37 million. During the same quarter in the prior year, the business posted $0.26 earnings per share. The company’s revenue was up 28.4% compared to the same quarter last year. As a group, equities analysts expect that BioMarin Pharmaceutical Inc. will post 2.47 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BMRN. Sanford C. Bernstein dropped their price target on BioMarin Pharmaceutical from $116.00 to $90.00 and set an “outperform” rating for the company in a research note on Tuesday, September 17th. Canaccord Genuity Group lowered their price objective on BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating for the company in a research note on Wednesday, October 30th. Evercore ISI lowered their price objective on BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Citigroup lowered their price objective on BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Finally, Cantor Fitzgerald lowered their price objective on BioMarin Pharmaceutical from $110.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $94.20.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Primecap Management Co. CA increased its holdings in shares of BioMarin Pharmaceutical by 0.4% in the 3rd quarter. Primecap Management Co. CA now owns 18,867,435 shares of the biotechnology company’s stock valued at $1,326,192,000 after acquiring an additional 77,350 shares during the period. Vanguard Group Inc. boosted its position in shares of BioMarin Pharmaceutical by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 18,117,108 shares of the biotechnology company’s stock worth $1,582,348,000 after purchasing an additional 67,046 shares in the last quarter. Avoro Capital Advisors LLC boosted its position in shares of BioMarin Pharmaceutical by 4.4% in the 2nd quarter. Avoro Capital Advisors LLC now owns 4,557,416 shares of the biotechnology company’s stock worth $375,212,000 after purchasing an additional 192,416 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of BioMarin Pharmaceutical by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,401,628 shares of the biotechnology company’s stock worth $98,520,000 after purchasing an additional 55,699 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of BioMarin Pharmaceutical by 38.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,034,457 shares of the biotechnology company’s stock worth $85,178,000 after purchasing an additional 289,953 shares in the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.