BioMarin Pharmaceutical Sees Unusually High Options Volume (NASDAQ:BMRN)

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) was the recipient of some unusual options trading on Wednesday. Investors purchased 4,841 put options on the company. This is an increase of 173% compared to the typical volume of 1,774 put options.

Insider Activity at BioMarin Pharmaceutical

In related news, Director Jean Jacques Bienaime sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $88.28, for a total value of $1,324,200.00. Following the completion of the transaction, the director now directly owns 419,602 shares of the company’s stock, valued at $37,042,464.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 2,286 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $90.00, for a total value of $205,740.00. Following the completion of the sale, the chief accounting officer now owns 16,156 shares in the company, valued at $1,454,040. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jean Jacques Bienaime sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $88.28, for a total value of $1,324,200.00. Following the completion of the sale, the director now owns 419,602 shares of the company’s stock, valued at approximately $37,042,464.56. The disclosure for this sale can be found here. Insiders sold 103,229 shares of company stock valued at $9,062,967 over the last three months. 1.84% of the stock is owned by corporate insiders.

Institutional Trading of BioMarin Pharmaceutical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Simplicity Wealth LLC purchased a new stake in BioMarin Pharmaceutical during the 1st quarter worth about $258,000. IFM Investors Pty Ltd increased its position in BioMarin Pharmaceutical by 0.4% during the 1st quarter. IFM Investors Pty Ltd now owns 38,328 shares of the biotechnology company’s stock worth $3,348,000 after purchasing an additional 158 shares in the last quarter. AMI Asset Management Corp increased its position in BioMarin Pharmaceutical by 51.9% during the 1st quarter. AMI Asset Management Corp now owns 346,189 shares of the biotechnology company’s stock worth $30,236,000 after purchasing an additional 118,230 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in BioMarin Pharmaceutical by 65.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 100,279 shares of the biotechnology company’s stock worth $8,758,000 after purchasing an additional 39,708 shares in the last quarter. Finally, SteelPeak Wealth LLC increased its position in BioMarin Pharmaceutical by 10.9% during the 1st quarter. SteelPeak Wealth LLC now owns 2,498 shares of the biotechnology company’s stock worth $218,000 after purchasing an additional 246 shares in the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Robert W. Baird cut their price target on BioMarin Pharmaceutical from $127.00 to $104.00 and set an “outperform” rating for the company in a research note on Tuesday, January 30th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $91.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, February 29th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $100.00 price target on shares of BioMarin Pharmaceutical in a report on Friday, February 23rd. Piper Sandler decreased their price target on BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating for the company in a report on Friday, February 23rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $100.00 price target on shares of BioMarin Pharmaceutical in a report on Friday, February 23rd. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $107.61.

BioMarin Pharmaceutical Trading Down 0.9 %

Shares of BMRN stock opened at $91.20 on Thursday. BioMarin Pharmaceutical has a fifty-two week low of $76.02 and a fifty-two week high of $99.56. The stock has a market cap of $17.21 billion, a P/E ratio of 103.64, a P/E/G ratio of 1.65 and a beta of 0.31. The business has a fifty day simple moving average of $87.86 and a 200-day simple moving average of $89.23. The company has a quick ratio of 1.57, a current ratio of 2.51 and a debt-to-equity ratio of 0.12.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Thursday, February 22nd. The biotechnology company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. BioMarin Pharmaceutical had a return on equity of 5.01% and a net margin of 6.93%. The business had revenue of $646.21 million during the quarter, compared to analysts’ expectations of $639.53 million. During the same quarter last year, the business posted $0.11 earnings per share. The business’s revenue for the quarter was up 20.2% on a year-over-year basis. On average, analysts forecast that BioMarin Pharmaceutical will post 1.85 earnings per share for the current fiscal year.

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.