Erin Burkhart Sells 1,786 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Stock

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) CAO Erin Burkhart sold 1,786 shares of the firm’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $59.31, for a total value of $105,927.66. Following the transaction, the chief accounting officer now owns 14,173 shares of the company’s stock, valued at $840,600.63. The trade was a 11.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Erin Burkhart also recently made the following trade(s):

• On Wednesday, March 19th, Erin Burkhart sold 1,295 shares of BioMarin Pharmaceutical stock. The shares were sold at an average price of $71.52, for a total transaction of $92,618.40.
• On Monday, February 24th, Erin Burkhart sold 1,344 shares of BioMarin Pharmaceutical stock. The stock was sold at an average price of $68.38, for a total transaction of $91,902.72.

BioMarin Pharmaceutical Price Performance

Shares of BMRN traded up $0.52 during mid-day trading on Tuesday, reaching $59.93. The stock had a trading volume of 2,964,184 shares, compared to its average volume of 1,870,661. BioMarin Pharmaceutical Inc. has a 12 month low of $52.93 and a 12 month high of $94.85. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 5.33. The firm has a market cap of $11.49 billion, a price-to-earnings ratio of 27.24, a PEG ratio of 0.61 and a beta of 0.27. The business has a fifty day moving average of $63.41 and a 200 day moving average of $64.99.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.18. The firm had revenue of $747.31 million during the quarter, compared to analyst estimates of $711.05 million. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. Equities analysts predict that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current year.

Institutional Trading of BioMarin Pharmaceutical

Several hedge funds have recently modified their holdings of BMRN. Norges Bank purchased a new stake in BioMarin Pharmaceutical during the fourth quarter valued at $234,645,000. Nuveen LLC purchased a new stake in shares of BioMarin Pharmaceutical during the 1st quarter valued at about $184,475,000. Capital Research Global Investors raised its position in shares of BioMarin Pharmaceutical by 23.8% during the 4th quarter. Capital Research Global Investors now owns 12,991,772 shares of the biotechnology company’s stock valued at $853,944,000 after buying an additional 2,496,817 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of BioMarin Pharmaceutical by 127.9% in the 1st quarter. AQR Capital Management LLC now owns 2,925,805 shares of the biotechnology company’s stock valued at $203,987,000 after acquiring an additional 1,642,206 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in BioMarin Pharmaceutical by 212.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,592,963 shares of the biotechnology company’s stock worth $112,607,000 after acquiring an additional 1,083,512 shares in the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BMRN has been the subject of several analyst reports. Scotiabank raised their price target on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a “sector perform” rating in a research report on Thursday, February 20th. Oppenheimer upgraded BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 target price on the stock in a research note on Monday, February 24th. Wedbush restated an “outperform” rating and issued a $94.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating, seventeen 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 a consensus rating of “Moderate Buy” and a consensus price target of $93.45.

BioMarin Pharmaceutical Company Profile

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.