Biomarin pharmaceutical's CTO sells $350k in stock

Charles Greg Guyer, the Executive Vice President and Chief Technical Officer of BioMarin Pharmaceutical Inc. (NASDAQ:), recently executed significant stock transactions. On November 12, Guyer sold 5,278 shares of BioMarin's common stock at a weighted average price of $66.37, totaling approximately $350,323. Following this sale, Guyer retains ownership of 68,909 shares in the company.

Earlier, on October 31, Guyer acquired 55 shares through the company’s Employee Stock Purchase Plan at a price of $56.01 per share. This acquisition was part of a regular employee benefit program.

In other recent news, BioMarin Pharmaceutical (TADAWUL:) Inc. has reported robust growth in the third quarter of 2024, driven by a 50% surge in VOXZOGO sales. The company's revenue rose by an impressive 28% year-over-year, reaching $746 million. BioMarin is restructuring into new business units to enhance efficiency, with a keen focus on its Skeletal Conditions franchise.

The company has raised its revenue guidance for 2024 to a range of $2.79 billion to $2.825 billion, reflecting its strong financial performance. BioMarin has also updated its non-GAAP diluted EPS target to between $3.25 and $3.35.

BioMarin is planning to expand VOXZOGO's market reach and is targeting 11 high-impact product launches by 2034. The company is also monitoring potential competition from new oral agents expected to enter the market in 2025. These recent developments underscore BioMarin's commitment to growth and innovation in its product line.

InvestingPro Insights

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has been experiencing some volatility in its stock price, with the recent insider transaction by Charles Greg Guyer occurring amidst a challenging market environment for the company. According to InvestingPro data, BioMarin's stock is currently trading near its 52-week low, with a year-to-date price total return of -30.86% as of the most recent data.

Despite the recent stock performance, BioMarin's financials show some positive indicators. The company's revenue growth has been strong, with a 28.28% increase in quarterly revenue as of Q3 2024. Additionally, BioMarin's EBITDA growth stands at an impressive 64.09% for the last twelve months, indicating improved operational efficiency.

InvestingPro Tips highlight that BioMarin is trading at a low P/E ratio relative to its near-term earnings growth, with a PEG ratio of 0.33. This suggests that the stock may be undervalued considering its growth prospects. Furthermore, the company's net income is expected to grow this year, which could potentially support future stock price appreciation.

It's worth noting that while BioMarin operates with a moderate level of debt, its cash flows can sufficiently cover interest payments, indicating a stable financial position. This financial stability is further reinforced by the fact that the company's liquid assets exceed its short-term obligations.

For investors seeking more comprehensive analysis, InvestingPro offers 13 additional tips for BioMarin Pharmaceutical Inc., providing a deeper understanding of the company's financial health and market position.

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