BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Short Interest Update

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) was the recipient of a significant drop in short interest during the month of December. As of December 15th, there was short interest totalling 5,210,000 shares, a drop of 9.4% from the November 30th total of 5,750,000 shares. Based on an average daily trading volume, of 1,470,000 shares, the days-to-cover ratio is currently 3.5 days.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ:BMRN traded up $0.28 during midday trading on Tuesday, reaching $65.73. 790,699 shares of the company traded hands, compared to its average volume of 1,786,631. The firm’s fifty day moving average price is $66.15 and its two-hundred day moving average price is $76.07. 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 firm has a market capitalization of $12.53 billion, a price-to-earnings ratio of 39.36, a price-to-earnings-growth ratio of 0.65 and a beta of 0.29. BioMarin Pharmaceutical has a 12 month low of $61.15 and a 12 month high of $99.25.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). The firm 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 company’s revenue for the quarter was up 28.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.26 EPS. On average, equities analysts expect that BioMarin Pharmaceutical will post 2.49 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Canaccord Genuity Group dropped their price objective on BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a research note on Wednesday, October 30th. Scotiabank cut their price target on shares of BioMarin Pharmaceutical from $95.00 to $78.00 and set a “sector perform” rating on the stock in a report on Tuesday, September 17th. Citigroup decreased their price objective on shares of BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Royal Bank of Canada restated a “sector perform” rating and issued a $80.00 target price on shares of BioMarin Pharmaceutical in a research note on Wednesday, October 30th. Finally, Bank of America dropped their price target on BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Seven equities research 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 company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $94.20.

Insider Activity

In other news, EVP Charles Greg Guyer sold 5,278 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 68,909 shares in the company, valued at $4,573,490.33. This trade represents a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.85% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. nVerses Capital LLC purchased a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter valued at $28,000. BOKF NA bought a new position in shares of BioMarin Pharmaceutical during the second quarter valued at about $31,000. TD Private Client Wealth LLC lifted its stake in shares of BioMarin Pharmaceutical by 57.4% in the 3rd quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock valued at $36,000 after acquiring an additional 186 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of BioMarin Pharmaceutical in the 2nd quarter valued at about $47,000. Finally, Meeder Asset Management Inc. boosted its holdings in BioMarin Pharmaceutical by 920.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock valued at $52,000 after acquiring an additional 663 shares during the period. 98.71% of the stock is currently owned by institutional investors.

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.