BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has been the object of insider selling activity recently. Jeffrey Robert Ajer, EVP reported the sale of 1,004 shares of (BMRN). The shares were sold on June 7th for an average price of $89.61. The EVP now owns $4,296,262 of the stock per the Form 4 SEC filing. EVP George Eric Davis sold 9,471 shares at an average price of $91.04 on Mon the 5th. That brings Davis’s holdings to $6,768,096 as recorded in a recent Form 4 SEC filing.
CEO Jean Jacques Bienaime disclosed the sale of 10,000 shares of BMRN stock. The shares sold for $90.13. Bienaime now owns $20,452,660 of the stock according to the SEC filing.
BioMarin Pharmaceutical Inc., launched on October 25, 1996, is a biotechnology company. The Company develops and commercializes pharmaceuticals for various diseases and medical conditions. As of December 31, 2016, the Business’s therapy portfolio consisted of five products, and multiple clinical and pre-clinical product candidates. Its commercial products include Aldurazyme (laronidase) for Mucopolysaccharidosis I (MPS I), Firdapse (amifampridine phosphate) for Lambert Eaton Myasthenic Syndrome (LEMS), Kuvan (sapropterin dihydrochloride) for phenylketonuria (PKU), Naglazyme (galsulfase) for Mucopolysaccharidosis VI (MPS VI) and Vimizim (elosulfase alpha) for Mucopolysaccharidosis IV Type A (MPS IV A)..
Here are a few other firms who have also updated their positions. As of quarter end Clearbridge Investments, LLC had bought 516,663 shares growing its position 63.3%. The value of the company’s investment in BioMarin Pharmaceutical Inc. went from $67,622,000 to $117,007,000 a change of $49,385,000 quarter over quarter. Proficio Capital Partners LLC grew its investment by buying 361 shares an increase of 190.0% as of 03/31/2017. Proficio Capital Partners LLC controls 551 shares with a value of $49,000. The total value of its holdings increased 206.3%.
Morgan Stanley added to its ownership by buying 4,856 shares an increase of 105.1% from 12/31/2016 to 03/31/2017. Morgan Stanley claims 9,476 shares worth $832,000. The value of the position overall is up by 117.2%. Goldman Sachs Group Inc downsized its holdings by shedding 88,851 shares a decrease of 14.3% in the quarter. Goldman Sachs Group Inc now holds 534,449 shares valued at $46,914,000. The value of the position overall is down by 9.1%.
November 29 investment analysts at Barclays kept the price objective at $105.00 and downgraded the stock from Overweight to Equal-Weight. On November 29 the company was downgraded to “Equal-Weight” from “Overweight” with a current price target of $105.00 in a report from Barclays.
On November 7 the company was changed to a “Neutral” in a report from PiperJaffray which was a cut from the previous “” rating. On November 3 analysts at Deutsche Bank starting coverage on BMRN setting a rating of “Buy”.
Equity analyst BMO Capital started covering the stock by announcing an initial rating of “Outperform”. March 22 investment analysts at Credit Suisse kept the company rating at “Outperform” and lowered the price expectation from $114.00 to $109.00.
The company is so far trading up from yesterday’s close of $89.99. The stock is trading at $90.23 which is slightly below $91.41, the 50 day moving average and a bit higher than the 200 day moving average of $88.65. The 50 day moving average was down $-1.18 and the 200 day average went up $1.58 or +1.78%.
In the last earnings report the EPS was $-3.36 and is estimated to be $-0.81 for the current year with 174,490,000 shares presently outstanding. Next quarter’s EPS is forecasted to be $-0.23 and the next full year EPS is anticipated to be $-0.40.
Short traders are more bullish on the company if you pay attention to the downtick in short interest. The company realized a fall in short interest of -2.72% as of the latest report on April 28, 2017. Short interest fell from 7,684,735 to 7,475,609 over that timeframe. Days to cover increased from 5.4 to 5.8 and the short interest percentage is 0.04% as of April 28.