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

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) was the recipient of a large decrease in short interest in the month of May. As of May 31st, there was short interest totalling 3,040,000 shares, a decrease of 18.7% from the May 15th total of 3,740,000 shares. Based on an average daily volume of 1,890,000 shares, the short-interest ratio is presently 1.6 days.

Wall Street Analysts Forecast Growth

BMRN has been the topic of a number of research reports. Scotiabank increased their target price on shares of BioMarin Pharmaceutical from $83.00 to $85.00 and gave the stock a “sector perform” rating in a report on Thursday, April 25th. Morgan Stanley reduced their price objective on shares of BioMarin Pharmaceutical from $115.00 to $112.00 and set an “overweight” rating for the company in a research report on Friday, April 26th. Citigroup reduced their price objective on shares of BioMarin Pharmaceutical from $94.00 to $91.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Canaccord Genuity Group reduced their price target on shares of BioMarin Pharmaceutical from $91.00 to $89.00 and set a “hold” rating for the company in a research report on Friday, April 26th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $100.00 price objective on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $106.11.

Insider Buying and Selling

In related news, CFO Brian Mueller sold 5,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $75.19, for a total transaction of $375,950.00. Following the sale, the chief financial officer now owns 72,159 shares of the company’s stock, valued at $5,425,635.21. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Brian Mueller sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $75.19, for a total transaction of $375,950.00. Following the completion of the transaction, the chief financial officer now owns 72,159 shares of the company’s stock, valued at $5,425,635.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP George Eric Davis sold 24,602 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $88.34, for a total transaction of $2,173,340.68. Following the transaction, the executive vice president now directly owns 55,856 shares of the company’s stock, valued at approximately $4,934,319.04. The disclosure for this sale can be found here. Insiders sold a total of 114,588 shares of company stock worth $9,413,633 in the last 90 days. Company insiders own 1.85% of the company’s stock.

Institutional Trading of BioMarin Pharmaceutical

A number of hedge funds and other institutional investors have recently made changes to their positions in BMRN. KB Financial Partners LLC lifted its holdings in BioMarin Pharmaceutical by 51.3% during the 3rd quarter. KB Financial Partners LLC now owns 348 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 118 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in BioMarin Pharmaceutical by 259.8% during the 4th quarter. Lindbrook Capital LLC now owns 385 shares of the biotechnology company’s stock valued at $37,000 after purchasing an additional 278 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in BioMarin Pharmaceutical by 135.3% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 433 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 249 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in BioMarin Pharmaceutical during the 4th quarter valued at $43,000. Finally, First Horizon Advisors Inc. lifted its holdings in BioMarin Pharmaceutical by 33.3% during the 4th quarter. First Horizon Advisors Inc. now owns 576 shares of the biotechnology company’s stock valued at $56,000 after purchasing an additional 144 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Stock Down 0.9 %

Shares of BMRN traded down $0.73 on Friday, hitting $83.51. The company’s stock had a trading volume of 2,476,410 shares, compared to its average volume of 2,727,685. The company has a quick ratio of 1.70, a current ratio of 2.74 and a debt-to-equity ratio of 0.12. The firm’s fifty day moving average price is $82.54 and its 200-day moving average price is $87.94. BioMarin Pharmaceutical has a fifty-two week low of $73.68 and a fifty-two week high of $99.56. The firm has a market capitalization of $15.86 billion, a price-to-earnings ratio of 78.05, a P/E/G ratio of 1.19 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.12. BioMarin Pharmaceutical had a net margin of 8.31% and a return on equity of 5.34%. The company had revenue of $648.83 million during the quarter, compared to analysts’ expectations of $649.75 million. On average, equities research analysts expect that BioMarin Pharmaceutical will post 1.99 EPS for the current year.

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.