Investors Purchase Large Volume of Call Options on BioMarin Pharmaceutical (NASDAQ:BMRN)

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) saw unusually large options trading on Thursday. Stock investors acquired 5,111 call options on the company. This is an increase of 273% compared to the average volume of 1,372 call options.

Insider Transactions at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,344 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $68.38, for a total transaction of $91,902.72. Following the completion of the transaction, the chief accounting officer now owns 13,105 shares in the company, valued at approximately $896,119.90. This represents a 9.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.85% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. LRI Investments LLC increased its holdings in BioMarin Pharmaceutical by 856.9% in the 4th quarter. LRI Investments LLC now owns 488 shares of the biotechnology company’s stock worth $32,000 after buying an additional 437 shares during the period. TD Private Client Wealth LLC increased its stake in shares of BioMarin Pharmaceutical by 57.4% in the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock worth $36,000 after acquiring an additional 186 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of BioMarin Pharmaceutical during the fourth quarter worth $36,000. CIBC Private Wealth Group LLC lifted its position in BioMarin Pharmaceutical by 64.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company’s stock valued at $41,000 after purchasing an additional 233 shares during the period. Finally, True Wealth Design LLC boosted its holdings in BioMarin Pharmaceutical by 13,400.0% in the third quarter. True Wealth Design LLC now owns 810 shares of the biotechnology company’s stock valued at $57,000 after purchasing an additional 804 shares during the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

BioMarin Pharmaceutical stock opened at $72.83 on Friday. BioMarin Pharmaceutical has a fifty-two week low of $60.63 and a fifty-two week high of $94.85. The company has a market capitalization of $13.89 billion, a PE ratio of 33.10, a P/E/G ratio of 0.61 and a beta of 0.33. The company has a 50 day moving average price of $67.26 and a 200-day moving average price of $67.84. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 5.33.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.18. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. The business had revenue of $747.31 million for the quarter, compared to analysts’ expectations of $711.05 million. As a group, equities analysts forecast that BioMarin Pharmaceutical will post 3.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BMRN. Scotiabank boosted 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. Bank of America lifted their price target on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Citigroup raised their target price on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Piper Sandler upped their price target on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Finally, UBS Group boosted their price objective on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Seven 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $94.00.

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.