A Director at BioMarin is Exercising Options

Today, a Director at BioMarin, Richard Meier , exercised options of BioMarin (NASDAQ: BMRN) for $578.9K. The options were close to expired and Richard Meier retained stocks.

Following this transaction Richard Meier’s holding in the company was increased by 41.31% to a total of $4.54 million.

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Based on BioMarin’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $381 million and GAAP net loss of $44.15 million. In comparison, last year the company earned revenue of $300 million and had a GAAP net loss of $16.29 million. Currently, BioMarin has an average volume of 803.3K.

28 different firms, including Barclays and BMO Capital, currently also have a Buy rating on the stock. Based on 13 analyst ratings, the analyst consensus is Strong Buy with an average price target of $117.46, reflecting a -24.3% downside.

The insider sentiment on BioMarin has been positive according to 104 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.

Richard Meier’s trades have generated a 21.6% average return based on past transactions. DailyInsider proprietary algorithm detects trades by the most influential insiders and selects attractive trading opportunities daily. To subscribe to the DailyInsider visit this page.

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BioMarin Pharmaceutical, Inc. is a biotechnology company, which develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its products include BioMarin, Brineura, Firdapse, Kuvan, Naglazyme, and Vimizim.