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

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) was the target of a significant 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 trading volume, of 1,470,000 shares, the short-interest ratio is currently 3.5 days.

Wall Street Analyst Weigh In

BMRN has been the topic of a number of analyst reports. Truist Financial lowered their target price on shares of BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Citigroup dropped their target price on BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Wedbush upgraded BioMarin Pharmaceutical to a “strong-buy” rating in a research report on Monday, November 4th. Piper Sandler upped their price target on BioMarin Pharmaceutical from $107.00 to $122.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. Finally, William Blair cut BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.20.

BioMarin Pharmaceutical Trading Up 0.4 %

BMRN traded up $0.28 during mid-day trading on Wednesday, reaching $65.73. The stock had a trading volume of 790,724 shares, compared to its average volume of 1,786,631. The firm’s fifty day simple moving average is $65.97 and its two-hundred day simple moving average is $75.87. The stock has a market capitalization of $12.53 billion, a P/E ratio of 39.36, a P/E/G ratio of 0.65 and a beta of 0.29. BioMarin Pharmaceutical has a 52 week low of $61.15 and a 52 week high of $99.25. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 4.27.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted 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). The firm had revenue of $746.00 million during the quarter, compared to the consensus estimate of $703.37 million. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. BioMarin Pharmaceutical’s revenue was up 28.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.26 EPS. On average, equities analysts predict that BioMarin Pharmaceutical will post 2.49 EPS for the current year.

Insider Activity

In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 5,278 shares of BioMarin Pharmaceutical stock in a transaction 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 owns 68,909 shares in the company, valued at $4,573,490.33. The trade was a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.85% of the stock is owned by company insiders.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Institutional investors have recently modified their holdings of the business. Primecap Management Co. CA lifted its holdings in BioMarin Pharmaceutical by 0.4% in the third quarter. Primecap Management Co. CA now owns 18,867,435 shares of the biotechnology company’s stock valued at $1,326,192,000 after buying an additional 77,350 shares during the period. Avoro Capital Advisors LLC boosted its position in shares of BioMarin Pharmaceutical by 4.4% in the 2nd quarter. Avoro Capital Advisors LLC now owns 4,557,416 shares of the biotechnology company’s stock worth $375,212,000 after purchasing an additional 192,416 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of BioMarin Pharmaceutical by 1.9% during the third quarter. Geode Capital Management LLC now owns 3,260,050 shares of the biotechnology company’s stock worth $228,632,000 after purchasing an additional 60,692 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of BioMarin Pharmaceutical by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,401,628 shares of the biotechnology company’s stock worth $98,520,000 after purchasing an additional 55,699 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in BioMarin Pharmaceutical by 38.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,034,457 shares of the biotechnology company’s stock valued at $85,178,000 after purchasing an additional 289,953 shares during the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

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.