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

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) was the recipient of some unusual options trading on Thursday. Stock investors bought 5,111 call options on the stock. This represents an increase of approximately 273% compared to the average daily volume of 1,372 call options.

Insider Activity

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,295 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $71.52, for a total value of $92,618.40. Following the completion of the sale, the chief accounting officer now owns 16,955 shares of the company’s stock, valued at approximately $1,212,621.60. This trade represents a 7.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.85% of the company’s stock.

Institutional Trading of BioMarin Pharmaceutical

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Advisors Asset Management Inc. boosted its position in shares of BioMarin Pharmaceutical by 1.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 11,451 shares of the biotechnology company’s stock worth $805,000 after purchasing an additional 180 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in BioMarin Pharmaceutical by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,401,628 shares of the biotechnology company’s stock valued at $98,520,000 after acquiring an additional 55,699 shares during the period. Daiwa Securities Group Inc. grew its position in BioMarin Pharmaceutical by 7.0% in the 3rd quarter. Daiwa Securities Group Inc. now owns 18,006 shares of the biotechnology company’s stock valued at $1,266,000 after acquiring an additional 1,185 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of BioMarin Pharmaceutical during the third quarter worth about $1,010,000. Finally, FMR LLC grew its holdings in shares of BioMarin Pharmaceutical by 21.7% in the third quarter. FMR LLC now owns 206,538 shares of the biotechnology company’s stock valued at $14,518,000 after purchasing an additional 36,877 shares in the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Price Performance

NASDAQ:BMRN traded up $0.91 during trading hours on Thursday, hitting $72.39. 424,950 shares of the stock were exchanged, compared to its average volume of 1,781,823. The firm’s fifty day moving average price is $67.03 and its 200 day moving average price is $67.81. BioMarin Pharmaceutical has a 52-week low of $60.63 and a 52-week high of $94.85. The company has a market cap of $13.81 billion, a P/E ratio of 32.96, a P/E/G ratio of 0.61 and a beta of 0.33. The company has a current ratio of 5.33, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.18. The company had revenue of $747.31 million for the quarter, compared to analysts’ expectations of $711.05 million. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. As a group, equities research analysts anticipate that BioMarin Pharmaceutical will post 3.15 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on BMRN. Wedbush reiterated an “outperform” rating and set a $94.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Scotiabank boosted their price target on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, February 20th. Bank of America lifted their target price on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Finally, UBS Group lifted their price objective on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.00.

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.