BioMarin Pharmaceutical (NASDAQ:BMRN) EVP Gregory Friberg Sells 6,326 Shares of Stock

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) EVP Gregory Friberg sold 6,326 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $60.38, for a total transaction of $381,963.88. Following the completion of the transaction, the executive vice president directly owned 37,578 shares in the company, valued at approximately $2,268,959.64. The trade was a 14.41% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

BioMarin Pharmaceutical Price Performance

BMRN stock opened at $61.11 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.10 and a current ratio of 5.21. The business has a 50-day simple moving average of $58.90 and a two-hundred day simple moving average of $56.15. The company has a market capitalization of $11.74 billion, a P/E ratio of 34.33, a price-to-earnings-growth ratio of 0.52 and a beta of 0.26. BioMarin Pharmaceutical Inc. has a 52-week low of $50.76 and a 52-week high of $73.51.

Institutional Investors Weigh In On BioMarin Pharmaceutical

A number of hedge funds have recently made changes to their positions in the business. Activest Wealth Management bought a new position in BioMarin Pharmaceutical during the fourth quarter valued at about $26,000. Quent Capital LLC bought a new stake in BioMarin Pharmaceutical in the third quarter worth about $28,000. CIBC Private Wealth Group LLC boosted its stake in BioMarin Pharmaceutical by 38.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock valued at $39,000 after acquiring an additional 179 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of BioMarin Pharmaceutical by 92.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock valued at $40,000 after acquiring an additional 360 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of BioMarin Pharmaceutical during the 3rd quarter valued at approximately $40,000. 98.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BMRN has been the subject of a number of analyst reports. HC Wainwright lowered their price target on BioMarin Pharmaceutical from $60.00 to $55.00 and set a “neutral” rating for the company in a research report on Wednesday. Wells Fargo & Company upped their target price on shares of BioMarin Pharmaceutical from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Guggenheim lowered their target price on shares of BioMarin Pharmaceutical from $106.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday. Barclays started coverage on shares of BioMarin Pharmaceutical in a research report on Wednesday, January 28th. They set an “overweight” rating and a $80.00 price target on the stock. Finally, Oppenheimer reduced their price objective on shares of BioMarin Pharmaceutical from $98.00 to $95.00 and set an “outperform” rating for the company in a research report on Tuesday. Fifteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and an average price target of $87.71.

BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical Inc is a biopharmaceutical company specializing in the development and commercialization of therapies for rare genetic and metabolic diseases. The company focuses on addressing unmet medical needs by leveraging enzyme replacement therapy, small molecule pharmacological chaperones and gene therapy technologies. Headquartered in Novato, California, BioMarin operates research and development facilities in the United States and Europe.

The company’s commercial portfolio includes several approved therapies targeting inherited disorders.