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

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) was the target of a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 3,560,000 shares, an increase of 17.1% from the May 31st total of 3,040,000 shares. Based on an average daily volume of 2,550,000 shares, the short-interest ratio is currently 1.4 days.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ BMRN traded down $0.29 during midday trading on Monday, reaching $82.04. The company’s stock had a trading volume of 680,626 shares, compared to its average volume of 1,982,681. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.70 and a current ratio of 2.74. BioMarin Pharmaceutical has a fifty-two week low of $73.68 and a fifty-two week high of $99.56. The business’s 50 day moving average price is $81.37 and its two-hundred day moving average price is $87.23. The company has a market cap of $15.58 billion, a P/E ratio of 76.94, a P/E/G ratio of 1.17 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $0.49 EPS for the quarter, beating 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 business had revenue of $648.83 million during the quarter, compared to the consensus estimate of $649.75 million. On average, analysts forecast that BioMarin Pharmaceutical will post 1.99 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Brian Mueller sold 5,000 shares of BioMarin Pharmaceutical stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $75.19, for a total transaction of $375,950.00. Following the transaction, the chief financial officer now owns 72,159 shares in the company, valued at $5,425,635.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 2,286 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $90.00, for a total value of $205,740.00. Following the completion of the transaction, the chief accounting officer now owns 16,156 shares of the company’s stock, valued at approximately $1,454,040. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Brian Mueller sold 5,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $75.19, for a total value of $375,950.00. Following the completion of the transaction, the chief financial officer now directly owns 72,159 shares of the company’s stock, valued at $5,425,635.21. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,986 shares of company stock valued at $7,240,292. Insiders own 1.85% of the company’s stock.

Institutional Trading of BioMarin Pharmaceutical

Institutional investors have recently modified their holdings of the business. Teachers Retirement System of The State of Kentucky boosted its position in BioMarin Pharmaceutical by 1.0% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 165,370 shares of the biotechnology company’s stock valued at $14,443,000 after acquiring an additional 1,572 shares during the last quarter. Swedbank AB bought a new stake in BioMarin Pharmaceutical during the first quarter valued at $25,864,000. Wahed Invest LLC boosted its position in BioMarin Pharmaceutical by 14.5% during the first quarter. Wahed Invest LLC now owns 3,654 shares of the biotechnology company’s stock valued at $319,000 after acquiring an additional 463 shares during the last quarter. Tidal Investments LLC boosted its position in BioMarin Pharmaceutical by 65.5% during the first quarter. Tidal Investments LLC now owns 17,447 shares of the biotechnology company’s stock valued at $1,524,000 after acquiring an additional 6,906 shares during the last quarter. Finally, Motley Fool Asset Management LLC boosted its position in BioMarin Pharmaceutical by 6.3% during the first quarter. Motley Fool Asset Management LLC now owns 46,915 shares of the biotechnology company’s stock valued at $4,098,000 after acquiring an additional 2,792 shares during the last quarter. Institutional investors own 98.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on BMRN shares. Canaccord Genuity Group decreased their price target on BioMarin Pharmaceutical from $91.00 to $89.00 and set a “hold” rating on the stock in a research report on Friday, April 26th. Evercore ISI started coverage on BioMarin Pharmaceutical in a research report on Tuesday, May 14th. They issued an “outperform” rating and a $113.00 price objective on the stock. Morgan Stanley decreased their price objective on BioMarin Pharmaceutical from $115.00 to $112.00 and set an “overweight” rating on the stock in a research report on Friday, April 26th. Scotiabank raised their price target on BioMarin Pharmaceutical from $83.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 25th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $110.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, April 25th. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.37.

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.