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

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) was the target of a large growth in short interest in October. As of October 15th, there was short interest totalling 5,590,000 shares, a growth of 5.9% from the September 30th total of 5,280,000 shares. Based on an average daily trading volume, of 1,740,000 shares, the short-interest ratio is presently 3.2 days.

Institutional Trading of BioMarin Pharmaceutical

Institutional investors and hedge funds have recently made changes to their positions in the business. AIA Group Ltd grew its stake in BioMarin Pharmaceutical by 15.4% in the 3rd quarter. AIA Group Ltd now owns 3,435 shares of the biotechnology company’s stock valued at $241,000 after acquiring an additional 458 shares during the period. Stoneridge Investment Partners LLC acquired a new stake in shares of BioMarin Pharmaceutical in the third quarter valued at about $295,000. AlphaCentric Advisors LLC grew its position in shares of BioMarin Pharmaceutical by 97.0% in the third quarter. AlphaCentric Advisors LLC now owns 32,500 shares of the biotechnology company’s stock valued at $2,284,000 after purchasing an additional 16,000 shares during the period. National Pension Service increased its stake in shares of BioMarin Pharmaceutical by 4.2% during the third quarter. National Pension Service now owns 345,387 shares of the biotechnology company’s stock worth $24,277,000 after purchasing an additional 13,878 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of BioMarin Pharmaceutical by 157.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 210,666 shares of the biotechnology company’s stock worth $14,808,000 after purchasing an additional 128,807 shares during the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on BMRN shares. Truist Financial decreased their price objective on BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. TD Cowen lowered their price target on BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Evercore ISI cut their price objective on shares of BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. decreased their price objective on shares of BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Bank of America dropped their target price on shares of BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.67.

BioMarin Pharmaceutical Stock Performance

BMRN opened at $66.60 on Friday. The firm has a fifty day moving average price of $75.13 and a 200 day moving average price of $80.67. BioMarin Pharmaceutical has a 1 year low of $65.35 and a 1 year high of $99.56. The stock has a market cap of $12.65 billion, a P/E ratio of 39.88, a P/E/G ratio of 0.77 and a beta of 0.31. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 1.95.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data 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). BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The firm had revenue of $746.00 million during the quarter, compared to analyst estimates of $703.37 million. During the same quarter last year, the company posted $0.26 EPS. The company’s revenue was up 28.4% on a year-over-year basis. Equities research analysts anticipate that BioMarin Pharmaceutical will post 2.39 earnings per share 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.