Insider Selling: BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) CEO Sells 8,000 Shares of Stock

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Get Rating) CEO Jean Jacques Bienaime sold 8,000 shares of the business’s stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $90.45, for a total transaction of $723,600.00. Following the transaction, the chief executive officer now owns 487,856 shares in the company, valued at $44,126,575.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Friday, March 10th, Jean Jacques Bienaime sold 15,000 shares of BioMarin Pharmaceutical stock. The stock was sold at an average price of $92.28, for a total transaction of $1,384,200.00.
• On Monday, February 13th, Jean Jacques Bienaime sold 6,000 shares of BioMarin Pharmaceutical stock. The stock was sold at an average price of $109.15, for a total transaction of $654,900.00.
• On Friday, February 10th, Jean Jacques Bienaime sold 15,000 shares of BioMarin Pharmaceutical stock. The stock was sold at an average price of $110.11, for a total transaction of $1,651,650.00.
• On Tuesday, January 17th, Jean Jacques Bienaime sold 10,000 shares of BioMarin Pharmaceutical stock. The stock was sold at an average price of $111.55, for a total transaction of $1,115,500.00.
• On Friday, January 13th, Jean Jacques Bienaime sold 10,000 shares of BioMarin Pharmaceutical stock. The stock was sold at an average price of $112.25, for a total transaction of $1,122,500.00.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ:BMRN opened at $90.25 on Wednesday. The company’s 50 day moving average price is $107.00 and its two-hundred day moving average price is $97.66. BioMarin Pharmaceutical Inc. has a 12-month low of $70.73 and a 12-month high of $117.77. The firm has a market cap of $16.83 billion, a PE ratio of 121.96 and a beta of 0.39. The company has a quick ratio of 3.15, a current ratio of 4.67 and a debt-to-equity ratio of 0.24.

Institutional Trading of BioMarin Pharmaceutical

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on BMRN. Evercore ISI upped their price target on shares of BioMarin Pharmaceutical to $130.00 in a research note on Friday, December 2nd. Canaccord Genuity Group decreased their price target on shares of BioMarin Pharmaceutical from $119.00 to $112.00 and set a “hold” rating on the stock in a research note on Tuesday, February 28th. Oppenheimer lowered shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 22nd. Credit Suisse Group upped their price target on shares of BioMarin Pharmaceutical from $110.00 to $127.00 and gave the company an “outperform” rating in a research note on Tuesday, February 28th. Finally, Morgan Stanley decreased their price target on shares of BioMarin Pharmaceutical from $132.00 to $131.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 28th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and an average price target of $120.11.

BioMarin Pharmaceutical Company Profile

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BioMarin Pharmaceutical, Inc engages in the development and commercialization of therapies for people with serious and life-threatening rare diseases and medical conditions. Its pipeline products include Valoctocogene roxaparvovec, Vosoritide, and BMN 307. The company was founded by John C. Klock, Christopher M.