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

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

BioMarin Pharmaceutical Price Performance

Shares of BMRN stock traded up $0.28 on Friday, hitting $61.53. 2,637,029 shares of the stock traded hands, compared to its average volume of 1,070,618. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 2.62. BioMarin Pharmaceutical has a 52 week low of $60.63 and a 52 week high of $94.85. The firm has a 50 day simple moving average of $65.49 and a two-hundred day simple moving average of $74.33. The firm has a market cap of $11.73 billion, a price-to-earnings ratio of 36.84, a PEG ratio of 0.59 and a beta of 0.29.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). The business had revenue of $746.00 million for the quarter, compared to the consensus estimate of $703.37 million. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. BioMarin Pharmaceutical’s revenue was up 28.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.26 earnings per share. As a group, equities research analysts predict that BioMarin Pharmaceutical will post 2.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Robert W. Baird reduced their price target on shares of BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Raymond James reaffirmed an “outperform” rating and issued a $79.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, October 10th. Barclays lowered their price target on BioMarin Pharmaceutical from $110.00 to $86.00 and set an “overweight” rating on the stock in a report on Friday, October 4th. Citigroup cut their price objective on BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Finally, William Blair downgraded BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average 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 company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total transaction of $350,300.86. Following the transaction, the executive vice president now directly owns 68,909 shares of the company’s stock, valued at $4,573,490.33. This represents a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.85% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BMRN. Susquehanna Fundamental Investments LLC bought a new position in shares of BioMarin Pharmaceutical during the 2nd quarter valued at about $5,627,000. Teachers Retirement System of The State of Kentucky lifted its position in shares of BioMarin Pharmaceutical by 17.4% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 194,207 shares of the biotechnology company’s stock worth $15,990,000 after buying an additional 28,837 shares in the last quarter. E Fund Management Co. Ltd. boosted its stake in BioMarin Pharmaceutical by 167.4% during the second quarter. E Fund Management Co. Ltd. now owns 13,480 shares of the biotechnology company’s stock valued at $1,110,000 after buying an additional 8,438 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in BioMarin Pharmaceutical by 461.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company’s stock valued at $40,205,000 after buying an additional 502,695 shares in the last quarter. Finally, Wedmont Private Capital bought a new stake in BioMarin Pharmaceutical in the 4th quarter worth approximately $430,000. 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.