BioMarin Pharmaceutical (NASDAQ:BMRN) Reaches New 52-Week Low After Insider Selling

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)’s share price reached a new 52-week low during trading on Friday after an insider sold shares in the company. The stock traded as low as $64.56 and last traded at $64.88, with a volume of 74320 shares changing hands. The stock had previously closed at $65.60.

Specifically, EVP Charles Greg Guyer sold 5,278 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total transaction of $350,300.86. Following the transaction, the executive vice president now owns 68,909 shares of the company’s stock, valued at approximately $4,573,490.33. This represents a 7.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BMRN shares. Wolfe Research assumed coverage on BioMarin Pharmaceutical in a report on Friday. They issued an “outperform” rating and a $95.00 target price for the company. William Blair downgraded shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. UBS Group increased their price objective on shares of BioMarin Pharmaceutical from $104.00 to $106.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Evercore ISI decreased their price objective on shares of BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Finally, TD Cowen lowered their target price on shares of BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Seven equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.20.

BioMarin Pharmaceutical Trading Down 3.3 %

The company has a market capitalization of $12.09 billion, a price-to-earnings ratio of 38.85, a price-to-earnings-growth ratio of 0.66 and a beta of 0.31. The business’s 50 day simple moving average is $70.85 and its 200 day simple moving average is $79.28. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 2.62.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.23). The company had revenue of $746.00 million for the quarter, compared to analysts’ expectations of $703.37 million. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The firm’s revenue was up 28.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.26 earnings per share. Research analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.47 EPS for the current year.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Hedge funds and other institutional investors have recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. raised its position in BioMarin Pharmaceutical by 29.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 485,609 shares of the biotechnology company’s stock worth $34,133,000 after buying an additional 110,683 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of BioMarin Pharmaceutical during the 3rd quarter worth approximately $1,984,000. MML Investors Services LLC raised its stake in shares of BioMarin Pharmaceutical by 8.1% during the 3rd quarter. MML Investors Services LLC now owns 7,621 shares of the biotechnology company’s stock worth $536,000 after buying an additional 572 shares in the last quarter. XTX Topco Ltd lifted its holdings in shares of BioMarin Pharmaceutical by 37.5% in the 3rd quarter. XTX Topco Ltd now owns 6,898 shares of the biotechnology company’s stock valued at $485,000 after buying an additional 1,880 shares during the period. Finally, EP Wealth Advisors LLC purchased a new stake in shares of BioMarin Pharmaceutical in the third quarter valued at approximately $500,000. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

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.