BioMarin Pharmaceutical Inc. (BMRN) EVP Sells $1,765,629.87 in Stock
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) EVP Jeffrey Robert Ajer sold 18,467 shares of the firm’s stock in a transaction dated Tuesday, September 27th. The shares were sold at an average price of $95.61, for a total transaction of $1,765,629.87. Following the completion of the sale, the executive vice president now owns 41,342 shares of the company’s stock, valued at approximately $3,952,708.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) opened at 92.78 on Friday. BioMarin Pharmaceutical Inc. has a 52-week low of $62.12 and a 52-week high of $118.48. The stock’s 50 day moving average is $95.39 and its 200-day moving average is $88.75. The firm’s market capitalization is $15.17 billion.
BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($2.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.52) by $2.09. BioMarin Pharmaceutical had a negative net margin of 54.53% and a negative return on equity of 11.99%. The firm had revenue of $300.10 million for the quarter, compared to analysts’ expectations of $278.75 million. During the same period in the prior year, the company posted ($0.51) earnings per share. BioMarin Pharmaceutical’s quarterly revenue was up 20.0% compared to the same quarter last year. Equities analysts expect that BioMarin Pharmaceutical Inc. will post ($3.95) earnings per share for the current year.
Several brokerages recently commented on BMRN. Vetr cut shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating and set a $103.86 price objective for the company. in a research note on Monday, August 1st. Barclays PLC raised their price objective on shares of BioMarin Pharmaceutical from $105.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, August 5th. Stifel Nicolaus raised their price objective on shares of BioMarin Pharmaceutical from $107.00 to $113.00 and gave the company a “buy” rating in a research note on Friday, August 5th. Piper Jaffray Cos. raised their price objective on shares of BioMarin Pharmaceutical from $107.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, August 5th. Finally, Jefferies Group lifted their target price on shares of BioMarin Pharmaceutical from $116.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 5th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $120.61.
Hedge funds have recently bought and sold shares of the stock. Adage Capital Partners GP L.L.C. raised its stake in BioMarin Pharmaceutical by 316.3% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,052,900 shares of the company’s stock worth $86,843,000 after buying an additional 800,000 shares in the last quarter. Candriam Luxembourg S.C.A. raised its stake in BioMarin Pharmaceutical by 18.5% in the second quarter. Candriam Luxembourg S.C.A. now owns 247,100 shares of the company’s stock worth $19,225,000 after buying an additional 38,628 shares during the period. ING Groep NV bought a new stake in BioMarin Pharmaceutical during the second quarter worth about $57,357,000. Strs Ohio raised its stake in BioMarin Pharmaceutical by 50.7% in the second quarter. Strs Ohio now owns 491,556 shares of the company’s stock worth $38,243,000 after buying an additional 165,472 shares during the period. Finally, State Street Corp raised its stake in BioMarin Pharmaceutical by 5.6% in the first quarter. State Street Corp now owns 3,286,743 shares of the company’s stock worth $271,074,000 after buying an additional 175,733 shares during the period. 93.02% of the stock is owned by institutional investors.
About BioMarin Pharmaceutical
BioMarin Pharmaceutical Inc (BioMarin) develops and commercializes pharmaceuticals for various diseases and medical conditions. The Company’s product portfolio consists of approximately five approved products, and multiple clinical and pre-clinical product candidates. Its approved products include Vimizim (elosulfase alpha), Naglazyme (galsulfase), Kuvan (sapropterin dihydrochloride), Aldurazyme (laronidase) and Firdapse (amifampridine phosphate).
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