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BioMarin Pharmaceutical (TADAWUL:2070) Inc. (NASDAQ:BMRN) recently reported that Erin Burkhart, the company’s Group Vice President and Chief Accounting Officer, sold a portion of her holdings in the company. According to a Form 4 filing with the Securities and Exchange Commission, Burkhart sold 1,295 shares of BioMarin stock on March 19 at a price of $71.52 per share, amounting to a total transaction value of $92,618. According to InvestingPro data, the stock currently trades at a P/E ratio of 31.8x, with analysts maintaining a bullish consensus and seven analysts recently revising earnings estimates upward.
The transaction was conducted under a pre-established 10b5-1 trading plan, which was executed on November 26, 2024. Following this sale, Burkhart retains direct ownership of 16,955 shares of BioMarin stock. Notably, her holdings were adjusted by two shares to correct a previous clerical error. For comprehensive insider trading analysis and additional insights, InvestingPro subscribers can access detailed reports covering executive transactions and company fundamentals.
BioMarin Pharmaceutical, based in San Rafael, California, is known for its focus on developing innovative therapies for rare genetic diseases. The company demonstrates strong financial health with a current ratio of 5.3x and operates with moderate debt levels, while maintaining an impressive gross profit margin of nearly 80%.
In other recent news, BioMarin Pharmaceutical Inc. reported robust financial results for the fourth quarter of 2024, with total revenues of $747 million, surpassing the consensus estimate of $712 million. The company’s financial guidance for 2025 suggests a stronger performance than anticipated, with projected revenue growth of 9-12% year-over-year, reaching $3.1 billion to $3.2 billion. Earnings are expected to increase by 20-25% year-over-year to $4.20-4.40 per share, exceeding the consensus forecast. Oppenheimer upgraded BioMarin’s stock rating from Perform to Outperform, setting a price target of $98, reflecting increased confidence in the company’s long-term prospects. Cantor Fitzgerald maintained an Overweight rating with a price target of $90, noting the strong growth potential indicated by the 2025 guidance.
Additionally, BioMarin announced the appointment of Timothy P. Walbert to its Board of Directors, expanding the board to twelve members. Walbert, a former CEO of Horizon Therapeutics (NASDAQ:HZNP), brings extensive industry experience to the company. BioMarin plans to present new data for its drugs Voxzogo and Palynziq at the upcoming ACMG Annual Clinical Genetics Meeting, emphasizing treatment adherence and safety profiles. Citi analysts maintained a Neutral rating on BioMarin, with a price target of $82, as the market remains cautiously optimistic pending further developments.
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