Stocks: Insider Selling: BioMarin Pharmaceutical Inc. (BMRN) CEO Sells $960,900.00 in Stock

Stocks: Insider Selling: BioMarin Pharmaceutical Inc. (BMRN) CEO Sells $960,900.00 in Stock

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) CEO Jean Jacques Bienaime sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $96.09, for a total value of $960,900.00. Following the completion of the transaction, the chief executive officer now directly owns 238,496 shares in the company, valued at $22,917,080.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) opened at 89.31 on Friday. The firm has a 50-day moving average price of $90.68 and a 200-day moving average price of $88.06. The company’s market cap is $15.58 billion. BioMarin Pharmaceutical Inc. has a 52 week low of $73.45 and a 52 week high of $102.49.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Thursday, May 4th. The biotechnology company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.33. The company had revenue of $303.70 million during the quarter, compared to analyst estimates of $292.58 million. BioMarin Pharmaceutical had a negative return on equity of 8.54% and a negative net margin of 46.22%. BioMarin Pharmaceutical’s revenue was up 28.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.53) earnings per share. Equities research analysts anticipate that BioMarin Pharmaceutical Inc. will post ($0.81) EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the company. Decatur Capital Management Inc. acquired a new stake in shares of BioMarin Pharmaceutical during the third quarter valued at approximately $10,418,000. Jennison Associates LLC raised its stake in shares of BioMarin Pharmaceutical by 7.2% in the third quarter. Jennison Associates LLC now owns 9,702,200 shares of the biotechnology company’s stock valued at $897,648,000 after buying an additional 650,956 shares in the last quarter. NEXT Financial Group Inc raised its stake in shares of BioMarin Pharmaceutical by 50.3% in the third quarter. NEXT Financial Group Inc now owns 2,975 shares of the biotechnology company’s stock valued at $275,000 after buying an additional 995 shares in the last quarter. Mizuho Trust & Banking Co. Ltd. raised its stake in shares of BioMarin Pharmaceutical by 0.3% in the third quarter. Mizuho Trust & Banking Co. Ltd. now owns 253,537 shares of the biotechnology company’s stock valued at $23,457,000 after buying an additional 643 shares in the last quarter. Finally, Suffolk Capital Management LLC acquired a new stake in shares of BioMarin Pharmaceutical during the third quarter valued at approximately $5,676,000. Institutional investors own 97.78% of the company’s stock.

Several equities analysts have issued reports on BMRN shares. Vetr lowered BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating and set a $102.51 price target on the stock. in a research note on Monday, February 27th. JPMorgan Chase & Co. set a $123.00 price objective on BioMarin Pharmaceutical and gave the company a “buy” rating in a report on Saturday, February 25th. Cowen and Company restated a “buy” rating and set a $150.00 price objective on shares of BioMarin Pharmaceutical in a report on Friday, February 24th. Gabelli restated a “buy” rating on shares of BioMarin Pharmaceutical in a report on Friday, February 10th. Finally, Jefferies Group LLC restated a “buy” rating and set a $116.00 price objective on shares of BioMarin Pharmaceutical in a report on Wednesday, April 26th. Eight investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $111.77.

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).

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