BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Sees Large Decrease in Short Interest

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) was the target of a significant decline in short interest in the month of December. As of December 31st, there was short interest totalling 4,540,000 shares, a decline of 12.9% from the December 15th total of 5,210,000 shares. Based on an average trading volume of 1,420,000 shares, the days-to-cover ratio is presently 3.2 days.

BioMarin Pharmaceutical Trading Up 0.5 %

Shares of BMRN traded up $0.28 during mid-day trading on Friday, hitting $61.53. The company had a trading volume of 2,637,029 shares, compared to its average volume of 1,070,618. BioMarin Pharmaceutical has a 1-year low of $60.63 and a 1-year high of $94.85. The company has a quick ratio of 2.62, a current ratio of 4.27 and a debt-to-equity ratio of 0.11. The business’s 50-day simple moving average is $65.49 and its 200-day simple moving average is $74.33. The stock has a market cap of $11.73 billion, a PE ratio of 36.84, a P/E/G ratio of 0.59 and a beta of 0.29.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.23). The company had revenue of $746.00 million for the quarter, compared to analysts’ expectations of $703.37 million. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The firm’s quarterly revenue was up 28.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.26 earnings per share. Sell-side analysts forecast that BioMarin Pharmaceutical will post 2.5 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on BMRN. Barclays lowered their target price on shares of BioMarin Pharmaceutical from $110.00 to $86.00 and set an “overweight” rating on the stock in a research report on Friday, October 4th. Canaccord Genuity Group lowered their price target on BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th. Wolfe Research assumed coverage on BioMarin Pharmaceutical in a research report on Friday, November 15th. They set an “outperform” rating and a $95.00 target price on the stock. JPMorgan Chase & Co. lowered their target price on BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Finally, Evercore ISI cut their price target on BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $94.20.

Insider Transactions at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 5,278 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total value of $350,300.86. Following the completion of the sale, the executive vice president now owns 68,909 shares of the company’s stock, valued at approximately $4,573,490.33. This trade represents a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.85% of the company’s stock.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Several large investors have recently made changes to their positions in the business. nVerses Capital LLC acquired a new stake in BioMarin Pharmaceutical in the 3rd quarter valued at $28,000. TD Private Client Wealth LLC grew its stake in shares of BioMarin Pharmaceutical by 57.4% in the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 186 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter valued at about $47,000. Meeder Asset Management Inc. lifted its position in BioMarin Pharmaceutical by 920.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock worth $52,000 after acquiring an additional 663 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in BioMarin Pharmaceutical by 56.1% in the 3rd quarter. GAMMA Investing LLC now owns 782 shares of the biotechnology company’s stock worth $55,000 after acquiring an additional 281 shares during the period. Institutional investors and hedge funds own 98.71% of the company’s stock.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.