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

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) saw a large growth in short interest during the month of November. As of November 30th, there was short interest totalling 5,750,000 shares, a growth of 12.3% from the November 15th total of 5,120,000 shares. Based on an average trading volume of 1,750,000 shares, the short-interest ratio is currently 3.3 days.

Insider Buying and Selling at BioMarin Pharmaceutical

In related news, EVP Charles Greg Guyer sold 5,278 shares of the business’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 value of $350,300.86. Following the completion of the sale, the executive vice president now directly owns 68,909 shares in the company, valued at approximately $4,573,490.33. The trade was a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.85% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BioMarin Pharmaceutical

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Erste Asset Management GmbH bought a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter worth approximately $48,527,000. Principal Financial Group Inc. lifted its stake in BioMarin Pharmaceutical by 1,858.6% in the second quarter. Principal Financial Group Inc. now owns 649,460 shares of the biotechnology company’s stock valued at $53,470,000 after buying an additional 616,301 shares during the last quarter. Vestal Point Capital LP acquired a new position in shares of BioMarin Pharmaceutical during the third quarter valued at $28,116,000. Clearline Capital LP bought a new position in shares of BioMarin Pharmaceutical during the third quarter worth about $22,477,000. Finally, Rhumbline Advisers increased its holdings in shares of BioMarin Pharmaceutical by 122.1% in the 2nd quarter. Rhumbline Advisers now owns 551,553 shares of the biotechnology company’s stock worth $45,409,000 after acquiring an additional 303,207 shares during the period. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on BMRN shares. Robert W. Baird cut their target price on BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Citigroup cut their price objective on BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Bank of America decreased their target price on BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Canaccord Genuity Group cut their price target on shares of BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th. Finally, Wolfe Research assumed coverage on shares of BioMarin Pharmaceutical in a research report on Friday, November 15th. They set an “outperform” rating and a $95.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $94.20.

BioMarin Pharmaceutical Stock Down 0.4 %

NASDAQ:BMRN traded down $0.25 during mid-day trading on Friday, reaching $66.01. The stock had a trading volume of 772,385 shares, compared to its average volume of 1,805,603. The stock’s 50 day simple moving average is $66.97 and its two-hundred day simple moving average is $77.12. BioMarin Pharmaceutical has a 1-year low of $61.15 and a 1-year high of $99.56. The company has a market capitalization of $12.58 billion, a price-to-earnings ratio of 39.53, a price-to-earnings-growth ratio of 0.65 and a beta of 0.29. 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 (NASDAQ:BMRN) last announced its quarterly earnings data 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). The firm had revenue of $746.00 million for the quarter, compared to the consensus estimate of $703.37 million. BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The business’s revenue for the quarter was up 28.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.26 earnings per share. Equities analysts anticipate that BioMarin Pharmaceutical will post 2.49 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.