Stock Traders Buy High Volume of BioMarin Pharmaceutical Call Options (NASDAQ:BMRN)

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) saw unusually large options trading on Thursday. Traders bought 5,111 call options on the company. This is an increase of approximately 273% compared to the typical daily volume of 1,372 call options.

BioMarin Pharmaceutical Trading Down 1.9 %

Shares of NASDAQ BMRN opened at $71.44 on Friday. The company has a current ratio of 5.33, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. The company has a market cap of $13.63 billion, a PE ratio of 32.47, a P/E/G ratio of 0.61 and a beta of 0.33. The company has a 50-day moving average of $67.46 and a two-hundred day moving average of $67.75. BioMarin Pharmaceutical has a 1-year low of $60.63 and a 1-year high of $94.85.

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

Insider Transactions at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,344 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $68.38, for a total transaction of $91,902.72. Following the completion of the sale, the chief accounting officer now owns 13,105 shares in the company, valued at approximately $896,119.90. This represents a 9.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.85% of the company’s stock.

Institutional Investors Weigh In On BioMarin Pharmaceutical

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BMRN. Norges Bank bought a new position in BioMarin Pharmaceutical during the fourth quarter worth about $234,645,000. Capital Research Global Investors raised its holdings in BioMarin Pharmaceutical by 23.8% during the 4th quarter. Capital Research Global Investors now owns 12,991,772 shares of the biotechnology company’s stock worth $853,944,000 after buying an additional 2,496,817 shares during the period. Soleus Capital Management L.P. acquired a new stake in shares of BioMarin Pharmaceutical during the fourth quarter worth $65,822,000. Dodge & Cox boosted its stake in BioMarin Pharmaceutical by 6.1% in the 4th quarter. Dodge & Cox now owns 14,746,235 shares of the biotechnology company’s stock worth $969,270,000 after purchasing an additional 847,917 shares during the period. Finally, Erste Asset Management GmbH bought a new position in BioMarin Pharmaceutical during the 3rd quarter worth about $48,527,000. Institutional investors own 98.71% of the company’s stock.

Analysts Set New Price Targets

BMRN has been the subject of a number of analyst reports. Wedbush reaffirmed an “outperform” rating and set a $94.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Citigroup lifted their price objective on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Bank of America lifted their price target on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Piper Sandler increased their price objective on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $94.00.

BioMarin Pharmaceutical Company Profile

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.