Insider Trading February 26, 2026

BioMarin R&D Chief Sells $381,937 in Stock as Company Posts Mixed Q4 Results

Gregory Friberg reduced his stake slightly after a sale; analysts react differently to Q4 2025 earnings and Voxzogo guidance

By Ajmal Hussain BMRN
BioMarin R&D Chief Sells $381,937 in Stock as Company Posts Mixed Q4 Results
BMRN

BioMarin Pharmaceutical Inc. EVP and Chief R&D Officer Gregory R. Friberg sold 6,326 shares on February 26, 2026 for a weighted average price of $60.3758, totaling $381,937. The transaction left him with 37,578 shares. Separately, BioMarin reported fourth-quarter 2025 results that missed EPS estimates but topped revenue expectations, prompting a range of analyst rating and price-target revisions.

Key Points

  • BioMarin Executive VP and Chief R&D Officer Gregory R. Friberg sold 6,326 shares on February 26, 2026 for a weighted average of $60.3758, totaling $381,937 and leaving him with 37,578 shares.
  • BioMarin reported Q4 2025 EPS of $0.46 versus an expected $0.77, while revenue was $875 million, beating forecasts by 5.51 percent.
  • Analysts offered mixed reactions: Canaccord raised its target to $104 (Buy), Bernstein SocGen to $94 (Outperform), H.C. Wainwright cut its target to $55 (Neutral), and Stifel raised its target to $68 (Hold).

Gregory R. Friberg, who serves as Executive Vice President and Chief R&D Officer at BioMarin Pharmaceutical Inc (NASDAQ:BMRN), executed a sale of 6,326 shares of the companys common stock on February 26, 2026. The shares were sold at a weighted average price of $60.3758, producing a total transaction value of $381,937.

The per-share proceeds from the transaction ranged between $60.36 and $60.51. After the sale, Friberg directly holds 37,578 shares of BioMarin stock.

Regulatory reporting clarifies that the price shown as the weighted average in the filing reflects the value recorded in the appropriate column, while the actual prices received for individual shares fell within the $60.36 to $60.51 band. The reporting person must provide, on request, information about the number of shares sold at each price to the issuer, any security holder of the issuer, or the SEC staff.


Those insider trading details arrive alongside BioMarins fourth-quarter 2025 financial disclosure. The company reported earnings per share of $0.46, which was below the consensus estimate of $0.77. Revenue for the quarter was $875 million, exceeding forecasts by 5.51 percent.

Analysts responded with divergent adjustments to price targets and ratings. Canaccord Genuity raised its price target to $104 from $98 while maintaining a Buy rating, citing a modest top-line beat and the recent acquisition of Amicus Therapeutics. Bernstein SocGen Group lifted its price target to $94 from $90 and kept an Outperform rating, while noting that BioMarins Voxzogo guidance disappointed relative to expectations.

H.C. Wainwright reduced its price target to $55 from $60 and maintained a Neutral rating, pointing to competition for BioMarins VOXZOGO product. Stifel increased its price target to $68 from $61 and held a Hold rating following the company update that showed guidance modestly below consensus for Voxzogo and enzyme replacement therapy.

Collectively, these developments illustrate a spectrum of analyst views on BioMarins near-term outlook and the competitive pressures facing particular products. The companys quarter showed a revenue beat paired with an EPS shortfall, and its guidance on key products such as Voxzogo factored into differing assessment and price-target changes across firms.


Summary of the filing and earnings update is based on the reported transaction details and the companys published quarter results and subsequent analyst notes. Additional granularity on the exact distribution of shares sold at each listed price point is available from the reporting person upon request to the issuer or the SEC staff.

Risks

  • Earnings shortfall risk - BioMarins Q4 2025 EPS of $0.46 missed the $0.77 estimate, which could affect investor sentiment in the healthcare and biotech sectors.
  • Product guidance risk - Voxzogo guidance fell short of some expectations, introducing uncertainty for revenue forecasts and competitive positioning in rare-disease therapeutics.
  • Competitive risk - H.C. Wainwright highlighted competition for VOXZOGO, which could pressure market share and pricing in the biopharma segment.

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