Investors Buy Large Volume of BioMarin Pharmaceutical Put Options (NASDAQ:BMRN)

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Get Free Report) saw unusually large options trading on Wednesday. Stock traders acquired 4,841 put options on the stock. This is an increase of approximately 173% compared to the average daily volume of 1,774 put options.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, Director Jean Jacques Bienaime sold 20,000 shares of the firm's stock in a transaction on Friday, April 12th. The stock was sold at an average price of $91.26, for a total transaction of $1,825,200.00. Following the completion of the transaction, the director now owns 474,994 shares of the company's stock, valued at $43,347,952.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Erin Burkhart sold 2,286 shares of the firm's stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $90.00, for a total transaction of $205,740.00. Following the sale, the chief accounting officer now owns 16,156 shares in the company, valued at $1,454,040. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jean Jacques Bienaime sold 20,000 shares of the firm's stock in a transaction on Friday, April 12th. The stock was sold at an average price of $91.26, for a total value of $1,825,200.00. Following the sale, the director now owns 474,994 shares in the company, valued at approximately $43,347,952.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 103,229 shares of company stock valued at $9,062,967. Corporate insiders own 1.84% of the company's stock.

Institutional Trading of BioMarin Pharmaceutical

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in BioMarin Pharmaceutical by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 18,050,062 shares of the biotechnology company's stock valued at $1,740,387,000 after buying an additional 348,852 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of BioMarin Pharmaceutical by 79.0% during the fourth quarter. Capital Research Global Investors now owns 10,774,641 shares of the biotechnology company's stock valued at $1,038,907,000 after purchasing an additional 4,756,671 shares during the last quarter. Barclays PLC grew its holdings in shares of BioMarin Pharmaceutical by 31.6% during the third quarter. Barclays PLC now owns 5,573,157 shares of the biotechnology company's stock valued at $493,111,000 after purchasing an additional 1,336,886 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of BioMarin Pharmaceutical by 5.6% during the third quarter. Ameriprise Financial Inc. now owns 5,163,949 shares of the biotechnology company's stock valued at $456,906,000 after purchasing an additional 275,436 shares during the last quarter. Finally, Avoro Capital Advisors LLC grew its holdings in shares of BioMarin Pharmaceutical by 11.7% during the fourth quarter. Avoro Capital Advisors LLC now owns 4,300,000 shares of the biotechnology company's stock valued at $414,606,000 after purchasing an additional 450,000 shares during the last quarter. 98.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Cantor Fitzgerald reiterated an "overweight" rating and issued a $100.00 target price on shares of BioMarin Pharmaceutical in a report on Friday, February 23rd. Piper Sandler reduced their target price on BioMarin Pharmaceutical from $115.00 to $107.00 and set an "overweight" rating on the stock in a report on Friday, February 23rd. Robert W. Baird reduced their target price on BioMarin Pharmaceutical from $127.00 to $104.00 and set an "outperform" rating on the stock in a report on Tuesday, January 30th. Canaccord Genuity Group reiterated a "hold" rating and issued a $91.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 29th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $100.00 target price 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 issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $107.61.

BioMarin Pharmaceutical Stock Down 0.9 %

BioMarin Pharmaceutical stock traded down $0.86 during midday trading on Wednesday, hitting $91.20. The stock had a trading volume of 1,599,318 shares, compared to its average volume of 1,355,438. The company has a current ratio of 2.51, a quick ratio of 1.57 and a debt-to-equity ratio of 0.12. 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. BioMarin Pharmaceutical has a 12 month low of $76.02 and a 12 month high of $99.56. The business has a fifty day moving average price of $87.86 and a 200 day moving average price of $89.23.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The biotechnology company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.05. The firm had revenue of $646.21 million during the quarter, compared to analyst estimates of $639.53 million. BioMarin Pharmaceutical had a return on equity of 5.01% and a net margin of 6.93%. BioMarin Pharmaceutical's quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.11 earnings per share. Research analysts predict that BioMarin Pharmaceutical will post 1.85 EPS for the current year.

About BioMarin Pharmaceutical

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.