BioMarin’s chief accounting officer sells $91,902 in stock

Erin Burkhart, the Group Vice President and Chief Accounting Officer at BioMarin Pharmaceutical (TADAWUL:2070) Inc. (NASDAQ:BMRN), recently sold a portion of her holdings in the company. According to a filing with the Securities and Exchange Commission, Burkhart sold 1,344 shares of BioMarin common stock on February 24, 2025. The shares were sold at a price of $68.38 each, amounting to a total transaction value of $91,902. The transaction comes as BioMarin’s stock shows strong momentum, with an 8.47% gain over the past week. InvestingPro analysis indicates the stock is currently trading below its Fair Value, suggesting potential upside opportunity.

After the sale, Burkhart retains ownership of 13,105 shares. The transaction was executed under a 10b5-1 trading plan, which was put in place on November 26, 2024. This type of plan allows company insiders to set up a predetermined schedule for selling stocks, helping to avoid potential accusations of insider trading. The company maintains strong financial health with a current ratio of 5.33 and operates with moderate debt levels. For deeper insights into BioMarin’s financial metrics and exclusive analysis, check out the comprehensive Pro Research Report available on InvestingPro.

In other recent news, BioMarin Pharmaceutical Inc. reported a strong fourth quarter of 2024, with total revenues reaching $747 million, surpassing the consensus estimate of $712 million. This performance has led Oppenheimer analysts to upgrade BioMarin’s stock rating from Perform to Outperform, setting a price target of $98.00. Additionally, Cantor Fitzgerald maintained its Overweight rating with a $90 price target, citing BioMarin’s expected revenue growth of 9-12% year-over-year for 2025. BMO Capital Markets also reiterated its Outperform rating with a $115 price target, highlighting BioMarin’s potential to exceed $4 billion in revenues by 2027.

BioMarin’s financial outlook is further supported by its 2024 operating margin performance, which exceeded initial guidance, reflecting increasing profitability. The company’s drug Voxzogo is noted as a key growth driver, along with other contributions like the 17% year-over-year growth of Palynziq. In governance developments, BioMarin expanded its Board of Directors by appointing Timothy P. Walbert, former CEO of Horizon Therapeutics (NASDAQ:HZNP), bringing significant industry experience to the board.

These developments underscore BioMarin’s strategic initiatives and financial strength, as the company continues to focus on its core enzyme business and potential pipeline expansions. The analysts’ positive outlooks suggest a favorable risk/reward scenario for BioMarin, with anticipated catalysts in 2025 expected to enhance the company’s market position.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.