Investors Purchase High Volume of BioMarin Pharmaceutical Put Options (NASDAQ:BMRN)

BioMarin Pharmaceutical Inc. (NASDAQ:BMRNGet Free Report) saw unusually large options trading on Monday. Investors bought 4,418 put options on the company. This represents an increase of approximately 194% compared to the average daily volume of 1,502 put options.

BioMarin Pharmaceutical Stock Down 0.3 %

Shares of NASDAQ:BMRN traded down $0.28 during midday trading on Monday, reaching $88.18. The company had a trading volume of 1,279,624 shares, compared to its average volume of 1,239,970. The company has a quick ratio of 1.65, a current ratio of 2.54 and a debt-to-equity ratio of 0.12. The business’s 50 day moving average price is $93.92 and its 200 day moving average price is $89.93. The stock has a market cap of $16.61 billion, a PE ratio of 114.64, a P/E/G ratio of 1.00 and a beta of 0.31. BioMarin Pharmaceutical has a 1-year low of $76.02 and a 1-year high of $109.65.

Insiders Place Their Bets

In other news, Director Jean Jacques Bienaime sold 10,000 shares of the stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $93.99, for a total value of $939,900.00. Following the completion of the transaction, the director now directly owns 425,112 shares of the company’s stock, valued at approximately $39,956,276.88. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Jean Jacques Bienaime sold 10,000 shares of the stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $93.99, for a total value of $939,900.00. Following the completion of the transaction, the director now directly owns 425,112 shares of the company’s stock, valued at approximately $39,956,276.88. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP George Eric Davis sold 13,764 shares of the stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $95.30, for a total value of $1,311,709.20. Following the completion of the transaction, the executive vice president now directly owns 55,710 shares of the company’s stock, valued at $5,309,163. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,764 shares of company stock worth $3,233,509. 1.84% of the stock is currently owned by company insiders.

Institutional Trading of BioMarin Pharmaceutical

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank bought a new stake in shares of BioMarin Pharmaceutical during the fourth quarter worth approximately $324,098,000. Barclays PLC boosted its holdings in shares of BioMarin Pharmaceutical by 31.6% during the third quarter. Barclays PLC now owns 5,573,157 shares of the biotechnology company’s stock worth $493,111,000 after acquiring an additional 1,336,886 shares during the period. Toronto Dominion Bank boosted its holdings in shares of BioMarin Pharmaceutical by 1,832.5% during the third quarter. Toronto Dominion Bank now owns 907,754 shares of the biotechnology company’s stock worth $80,318,000 after acquiring an additional 860,782 shares during the period. National Bank of Canada FI boosted its stake in shares of BioMarin Pharmaceutical by 3,233.6% in the third quarter. National Bank of Canada FI now owns 610,911 shares of the biotechnology company’s stock valued at $53,192,000 after buying an additional 592,585 shares during the period. Finally, Hsbc Holdings PLC boosted its stake in shares of BioMarin Pharmaceutical by 251.1% in the third quarter. Hsbc Holdings PLC now owns 607,098 shares of the biotechnology company’s stock valued at $53,941,000 after buying an additional 434,199 shares during the period. Institutional investors and hedge funds own 92.78% of the company’s stock.

Analyst Upgrades and Downgrades

BMRN has been the subject of a number of recent analyst reports. BMO Capital Markets dropped their price target on BioMarin Pharmaceutical from $102.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, November 3rd. Barclays reduced their price target on BioMarin Pharmaceutical from $125.00 to $111.00 and set an “overweight” rating on the stock in a research report on Thursday, November 2nd. Sanford C. Bernstein upgraded BioMarin Pharmaceutical from an “underperform” rating to a “market perform” rating and set a $82.00 price target on the stock in a research report on Monday, October 23rd. Wells Fargo & Company started coverage on BioMarin Pharmaceutical in a research report on Wednesday, November 15th. They issued an “overweight” rating and a $100.00 price target on the stock. Finally, Robert W. Baird reduced their price target on BioMarin Pharmaceutical from $127.00 to $104.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 30th. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and an average price target of $110.16.

Read Our Latest Research Report on BMRN

About BioMarin Pharmaceutical

(Get Free Report)

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.

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