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

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

BioMarin Pharmaceutical Stock Up 0.5 %

Shares of BMRN traded up $0.28 during trading hours on Friday, hitting $61.53. 2,637,029 shares of the company were exchanged, compared to its average volume of 1,070,618. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 4.27. The company has a market cap of $11.73 billion, a PE ratio of 36.84, a PEG ratio of 0.59 and a beta of 0.29. The firm’s 50 day moving average is $65.49 and its 200-day moving average is $74.33. BioMarin Pharmaceutical has a 52 week low of $60.63 and a 52 week high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released 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 firm had revenue of $746.00 million during 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%. The company’s revenue for the quarter was up 28.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.26 EPS. On average, equities research analysts forecast that BioMarin Pharmaceutical will post 2.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BMRN. Canaccord Genuity Group lowered their target price on shares of BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating for the company in a research note on Wednesday, October 30th. Barclays cut their target price on shares of BioMarin Pharmaceutical from $110.00 to $86.00 and set an “overweight” rating on the stock in a report on Friday, October 4th. UBS Group upped their price target on shares of BioMarin Pharmaceutical from $104.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Citigroup lowered their target price on BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Finally, Wedbush raised shares of BioMarin Pharmaceutical to a “strong-buy” rating in a research note on Monday, November 4th. Seven research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.20.

Insider Buying and Selling at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 5,278 shares of the stock in a transaction that occurred 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 owns 68,909 shares of the company’s stock, valued at $4,573,490.33. This trade represents a 7.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.85% of the stock is owned by insiders.

Institutional Trading of BioMarin Pharmaceutical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Perpetual Ltd acquired a new stake in shares of BioMarin Pharmaceutical in the fourth quarter worth $230,000. UMB Bank n.a. boosted its holdings in BioMarin Pharmaceutical by 260.1% in the 4th quarter. UMB Bank n.a. now owns 1,019 shares of the biotechnology company’s stock valued at $67,000 after purchasing an additional 736 shares during the period. Merit Financial Group LLC acquired a new stake in BioMarin Pharmaceutical in the 4th quarter worth $317,000. Avanza Fonder AB bought a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth about $1,062,000. Finally, Assenagon Asset Management S.A. raised its position in shares of BioMarin Pharmaceutical by 461.3% during the fourth 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 during the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Company Profile

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.