BioMarin Pharmaceutical Target of Unusually Large Options Trading (NASDAQ:BMRN)

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

BioMarin Pharmaceutical Stock Up 0.8 %

NASDAQ BMRN traded up $0.75 during trading on Wednesday, hitting $92.81. The stock had a trading volume of 208,992 shares, compared to its average volume of 1,336,304. BioMarin Pharmaceutical has a 12 month low of $76.02 and a 12 month high of $99.56. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.57 and a current ratio of 2.51. The company’s 50-day moving average price is $87.76 and its two-hundred day moving average price is $89.21. The company has a market capitalization of $17.52 billion, a PE ratio of 104.61, a P/E/G ratio of 1.65 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Thursday, February 22nd. The biotechnology company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.05. BioMarin Pharmaceutical had a net margin of 6.93% and a return on equity of 5.01%. The company had revenue of $646.21 million during the quarter, compared to the consensus estimate of $639.53 million. During the same period in the prior year, the business posted $0.11 EPS. The company’s quarterly revenue was up 20.2% on a year-over-year basis. As a group, sell-side analysts forecast that BioMarin Pharmaceutical will post 1.85 EPS for the current year.

Wall Street Analysts Forecast Growth

BMRN has been the subject of several recent research reports. Canaccord Genuity Group reiterated a “hold” rating and set a $91.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, February 29th. Robert W. Baird dropped their price objective on BioMarin Pharmaceutical from $127.00 to $104.00 and set an “outperform” rating for the company in a report on Tuesday, January 30th. Cantor Fitzgerald restated an “overweight” rating and set a $100.00 target price on shares of BioMarin Pharmaceutical in a report on Friday, February 23rd. Royal Bank of Canada restated a “sector perform” rating and set a $100.00 target price on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd. Finally, Piper Sandler cut their price target on shares of BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating on the stock in a research report on Friday, February 23rd. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $107.61.

Insider Activity

In other BioMarin Pharmaceutical news, Director Jean Jacques Bienaime sold 15,000 shares of the business’s stock in a transaction dated 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 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 legal filing with the SEC, which is available at this hyperlink. In other BioMarin Pharmaceutical news, insider Henry J. Fuchs sold 35,341 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $85.18, for a total transaction of $3,010,346.38. Following the completion of the sale, the insider now directly owns 212,117 shares of the company’s stock, valued at approximately $18,068,126.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jean Jacques Bienaime sold 15,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $88.28, for a total transaction of $1,324,200.00. Following the completion of the transaction, the director now directly owns 419,602 shares in the company, valued at approximately $37,042,464.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 103,229 shares of company stock worth $9,062,967. 1.84% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Institutional investors and hedge funds have recently made changes to their positions in the stock. Capital Research Global Investors raised its holdings in shares of BioMarin Pharmaceutical by 79.0% in the 4th 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 period. Norges Bank acquired a new position in BioMarin Pharmaceutical during the fourth quarter worth approximately $324,098,000. Barclays PLC raised its stake in BioMarin Pharmaceutical by 31.6% in the third quarter. Barclays PLC now owns 5,573,157 shares of the biotechnology company’s stock valued at $493,111,000 after buying an additional 1,336,886 shares during the period. Toronto Dominion Bank raised its stake in BioMarin Pharmaceutical by 1,832.5% in the third quarter. Toronto Dominion Bank now owns 907,754 shares of the biotechnology company’s stock valued at $80,318,000 after buying an additional 860,782 shares during the period. Finally, Avoro Capital Advisors LLC lifted its position in shares of BioMarin Pharmaceutical by 11.7% in 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 buying an additional 450,000 shares during the last quarter. Institutional investors own 98.71% of the company’s stock.

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.