Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) fell 2% during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $95.00 and last traded at $96.01, with a volume of 776,098 shares traded. The stock had previously closed at $97.95.

Specifically, CFO Daniel K. Spiegelman sold 4,000 shares of BioMarin Pharmaceutical stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $99.33, for a total transaction of $397,320.00. Following the completion of the sale, the chief financial officer now directly owns 42,944 shares in the company, valued at approximately $4,265,627.52. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Brian Mueller sold 287 shares of BioMarin Pharmaceutical stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $100.00, for a total value of $28,700.00. Following the sale, the vice president now owns 14,260 shares of the company’s stock, valued at $1,426,000. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.

Several brokerages have recently issued reports on BMRN. Vetr lowered BioMarin Pharmaceutical from a “buy” rating to a “hold” rating and set a $103.86 price target for the company. in a report on Monday, August 1st. Barclays PLC boosted their target price on BioMarin Pharmaceutical from $105.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, August 5th. Stifel Nicolaus boosted their target price on BioMarin Pharmaceutical from $107.00 to $113.00 and gave the stock a “buy” rating in a report on Friday, August 5th. Piper Jaffray Cos. boosted their target price on BioMarin Pharmaceutical from $107.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, August 5th. Finally, Jefferies Group boosted their target price on BioMarin Pharmaceutical from $116.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 5th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. BioMarin Pharmaceutical has an average rating of “Buy” and a consensus price target of $120.61.

The company has a 50-day moving average price of $95.65 and a 200-day moving average price of $88.34. The firm’s market cap is $15.95 billion.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Thursday, August 4th. The company reported ($2.61) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.52) by $2.09. BioMarin Pharmaceutical had a negative net margin of 54.53% and a negative return on equity of 11.99%. The business earned $300.10 million during the quarter, compared to analyst estimates of $278.75 million. During the same period in the previous year, the business earned ($0.51) earnings per share. The business’s quarterly revenue was up 20.0% on a year-over-year basis. On average, equities research analysts expect that BioMarin Pharmaceutical Inc. will post ($3.95) EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in BioMarin Pharmaceutical by 3.1% in the second quarter. Vanguard Group Inc. now owns 11,448,690 shares of the company’s stock worth $890,708,000 after buying an additional 346,369 shares during the last quarter. Jennison Associates LLC boosted its stake in BioMarin Pharmaceutical by 3.4% in the second quarter. Jennison Associates LLC now owns 9,051,244 shares of the company’s stock worth $704,187,000 after buying an additional 301,353 shares during the last quarter. Primecap Management Co. CA boosted its stake in BioMarin Pharmaceutical by 0.3% in the first quarter. Primecap Management Co. CA now owns 7,350,369 shares of the company’s stock worth $606,258,000 after buying an additional 19,680 shares during the last quarter. State Street Corp boosted its stake in BioMarin Pharmaceutical by 1.9% in the second quarter. State Street Corp now owns 3,349,037 shares of the company’s stock worth $260,556,000 after buying an additional 62,294 shares during the last quarter. Finally, Palo Alto Investors LLC boosted its stake in BioMarin Pharmaceutical by 29.6% in the second quarter. Palo Alto Investors LLC now owns 1,737,399 shares of the company’s stock worth $135,170,000 after buying an additional 397,052 shares during the last quarter. 93.02% of the stock is owned by institutional investors.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc (BioMarin) develops and commercializes pharmaceuticals for various diseases and medical conditions. The Company’s product portfolio consists of approximately five approved products, and multiple clinical and pre-clinical product candidates. Its approved products include Vimizim (elosulfase alpha), Naglazyme (galsulfase), Kuvan (sapropterin dihydrochloride), Aldurazyme (laronidase) and Firdapse (amifampridine phosphate).

5 Day Chart for NASDAQ:BMRN

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