Jean Jacques Bienaime Sells 10,000 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Stock

Posted by MarketBeat News on Jan 20th, 2023

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Get Rating) CEO Jean Jacques Bienaime sold 10,000 shares of the business’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $111.55, for a total value of $1,115,500.00. Following the sale, the chief executive officer now owns 320,424 shares in the company, valued at approximately $35,743,297.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

On Friday, January 13th, Jean Jacques Bienaime sold 10,000 shares of BioMarin Pharmaceutical stock. The shares were sold at an average price of $112.25, for a total value of $1,122,500.00.
On Tuesday, December 13th, Jean Jacques Bienaime sold 1,000 shares of BioMarin Pharmaceutical stock. The shares were sold at an average price of $106.89, for a total value of $106,890.00.
On Friday, December 2nd, Jean Jacques Bienaime sold 1,500 shares of BioMarin Pharmaceutical stock. The shares were sold at an average price of $103.98, for a total value of $155,970.00.
On Monday, October 31st, Jean Jacques Bienaime sold 1,500 shares of BioMarin Pharmaceutical stock. The shares were sold at an average price of $86.55, for a total value of $129,825.00.

BioMarin Pharmaceutical Price Performance

Shares of BioMarin Pharmaceutical stock opened at $109.20 on Friday. The business has a 50 day simple moving average of $102.31 and a two-hundred day simple moving average of $93.27. BioMarin Pharmaceutical Inc. has a 12 month low of $70.73 and a 12 month high of $114.80. The stock has a market capitalization of $20.25 billion, a P/E ratio of 260.00 and a beta of 0.36. The company has a debt-to-equity ratio of 0.24, a current ratio of 5.15 and a quick ratio of 3.54.

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BioMarin Pharmaceutical (NASDAQ:BMRN – Get Rating) last announced its earnings results on Wednesday, October 26th. The biotechnology company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. BioMarin Pharmaceutical had a return on equity of 2.50% and a net margin of 4.18%. The business had revenue of $505.30 million during the quarter, compared to analysts’ expectations of $516.03 million. During the same quarter in the prior year, the firm earned ($0.03) earnings per share. The business’s revenue was up 23.6% compared to the same quarter last year. As a group, analysts predict that BioMarin Pharmaceutical Inc. will post 0.87 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on BMRN. Wedbush upped their target price on BioMarin Pharmaceutical from $74.00 to $83.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 11th. Cantor Fitzgerald upped their target price on BioMarin Pharmaceutical from $110.00 to $115.00 in a research note on Wednesday, October 12th. Jefferies Financial Group upped their target price on BioMarin Pharmaceutical from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, November 29th. Morgan Stanley upped their target price on BioMarin Pharmaceutical from $111.00 to $113.00 and gave the stock an “overweight” rating in a research note on Thursday, October 27th. Finally, Canaccord Genuity Group assumed coverage on BioMarin Pharmaceutical in a research note on Wednesday. They issued a “hold” rating and a $119.00 target price on the stock. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and a consensus price target of $119.00.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Several hedge funds and other institutional investors have recently made changes to their positions in BMRN. Raymond James Financial Services Advisors Inc. increased its holdings in shares of BioMarin Pharmaceutical by 225.9% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 16,838 shares of the biotechnology company’s stock valued at $1,298,000 after purchasing an additional 11,672 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of BioMarin Pharmaceutical by 64.6% in the first quarter. American Century Companies Inc. now owns 11,312 shares of the biotechnology company’s stock valued at $872,000 after purchasing an additional 4,440 shares during the last quarter. Cetera Advisor Networks LLC increased its holdings in shares of BioMarin Pharmaceutical by 38.3% in the first quarter. Cetera Advisor Networks LLC now owns 5,525 shares of the biotechnology company’s stock valued at $426,000 after purchasing an additional 1,530 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of BioMarin Pharmaceutical by 14.4% in the first quarter. PNC Financial Services Group Inc. now owns 8,362 shares of the biotechnology company’s stock valued at $644,000 after purchasing an additional 1,055 shares during the last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of BioMarin Pharmaceutical by 395.4% in the first quarter. Acadian Asset Management LLC now owns 431 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 344 shares during the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

About BioMarin Pharmaceutical

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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.