BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Short Interest Down 9.4% in December

by · The Markets Daily

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Get Free Report) was the target of a large decrease in short interest during the month of December. As of December 15th, there was short interest totalling 5,210,000 shares, a decrease of 9.4% from the November 30th total of 5,750,000 shares. Based on an average daily volume of 1,470,000 shares, the short-interest ratio is currently 3.5 days.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BMRN. Piper Sandler raised their target price on shares of BioMarin Pharmaceutical from $107.00 to $122.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Evercore ISI cut their price objective on BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Scotiabank decreased their price target on BioMarin Pharmaceutical from $95.00 to $78.00 and set a “sector perform” rating on the stock in a research note on Tuesday, September 17th. Bank of America lowered their price objective on shares of BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Finally, Raymond James restated an “outperform” rating and issued a $79.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, October 10th. Seven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $94.20.

View Our Latest Report on BMRN

BioMarin Pharmaceutical Trading Up 0.4 %

Shares of BMRN stock traded up $0.28 on Tuesday, reaching $65.73. 790,724 shares of the stock were exchanged, compared to its average volume of 1,786,631. 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 one year low of $61.15 and a one year high of $99.25. The stock has a market cap of $12.53 billion, a PE ratio of 39.36, a P/E/G ratio of 0.65 and a beta of 0.29. The stock has a 50 day moving average price of $66.05 and a 200 day moving average price of $75.94.

BioMarin Pharmaceutical (NASDAQ:BMRN – Get Free Report) last announced its quarterly earnings results 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). BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The firm had revenue of $746.00 million during the quarter, compared to analyst estimates of $703.37 million. During the same period last year, the firm earned $0.26 EPS. BioMarin Pharmaceutical’s quarterly revenue was up 28.4% on a year-over-year basis. Equities research analysts forecast that BioMarin Pharmaceutical will post 2.49 EPS for the current fiscal year.

Insider Activity

In related news, EVP Charles Greg Guyer sold 5,278 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total transaction of $350,300.86. Following the sale, the executive vice president now directly owns 68,909 shares in the company, valued at approximately $4,573,490.33. This represents a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.85% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BMRN. AGF Management Ltd. acquired a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter worth $2,563,000. Susquehanna Fundamental Investments LLC acquired a new position in BioMarin Pharmaceutical in the 2nd quarter valued at approximately $5,627,000. Teachers Retirement System of The State of Kentucky lifted its holdings in BioMarin Pharmaceutical by 17.4% during the 2nd 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 during the period. E Fund Management Co. Ltd. raised its holdings in BioMarin Pharmaceutical by 167.4% during the 2nd quarter. E Fund Management Co. Ltd. now owns 13,480 shares of the biotechnology company’s stock worth $1,110,000 after purchasing an additional 8,438 shares during the last quarter. Finally, EULAV Asset Management lifted its holdings in BioMarin Pharmaceutical by 12.9% in the third quarter. EULAV Asset Management now owns 131,000 shares of the biotechnology company’s stock valued at $9,208,000 after buying an additional 15,000 shares during the period. 98.71% of the stock is owned by institutional investors and hedge funds.

About BioMarin Pharmaceutical

(Get Free Report)

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.

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