BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Traded 6.7% Above Its 50 Day Moving Average


Shares last traded at $91.91 which is slightly above the 50 day moving average of $86.13 and a tad higher than the 200 day moving average of $89.49. The 50 day moving average was up by +6.71% and the 200 day average was up $2.42. Trading volume for BioMarin Pharmaceutical Inc. was 1,193K on Wednesday. Overall, volume was up 20.91% over the stocks normal daily volume.

Short traders are feeling a little more bearish on shares of the company lately as shown by the rise in short interest. The firm recorded a rise in short interest from July 31, 2017 to August 15, 2017 of 9.13%. Short shares increased from 6,872,355 to 7,499,719 over that timeframe. The short-interest ratio decreased to 5.0 and the percentage of shorted shares was 0.04% on August 15.

Here is a rundown on some insider market activity for BioMarin Pharmaceutical Inc. (NASDAQ:BMRN). George Eric Davis, EVP disclosed the sale of 9,844 shares. The shares were sold on June 23rd for an average price of $96.60. The EVP now owns $8,073,925 of the stock according to the SEC filing. Sr VP Brian Mueller let go of 2,671 shares at an average price of $100.00 on Thu the 22nd. That brings Mueller’s holdings to $1,288,500 as recorded in a recent Form 4 SEC filing.

The following firms have recently changed their position in BMRN. As of quarter end Perigon Wealth Management, LLC had bought 330 shares growing its holdings by 5.5%. The value of the investment in BioMarin Pharmaceutical Inc. went from $525,000 to $573,000 increasing 9.1% for the reporting period. Next Financial Group, Inc reduced its stake by selling 25 shares a decrease of 0.8% from 03/31/2017 to 06/30/2017. Next Financial Group, Inc now holds 3,025 shares worth $275,000,000. The value of the position overall is up by 94,078.1%.

William Blair Investment Management, LLC cut its investment by shedding 61,422 shares a decrease of 5.5% in the quarter. William Blair Investment Management, LLC currently owns 1,062,506 shares valued at $96,497,000. The total value of its holdings decreased 2.2%. Venbio Select Advisor LLC trimmed its holdings by selling 89,211 shares a decrease of 15.1%. Venbio Select Advisor LLC claims 500,789 shares with a value of $45,482,000. The total value of its holdings decreased 12.2%.

Evercore ISI Group began coverage of the stock by announcing an initial rating of “Outperform”. On July 27 analysts at Bernstein started covering BMRN with a rating of “Market Perform”.

As of the latest earnings report the EPS was $-1.07 and is estimated to be $-0.71 for the current year with 175,268,000 shares currently outstanding. Next quarter’s EPS is estimated at $-0.32 and the next full year EPS is anticipated to be $-0.25.

BioMarin Pharmaceutical Inc., launched on October 25, 1996, is a biotechnology company. The Company develops and commercializes pharmaceuticals for various diseases and medical conditions. As of December 31, 2016, the Business’s therapy portfolio consisted of five products, and multiple clinical and pre-clinical product candidates. Its commercial products include Aldurazyme (laronidase) for Mucopolysaccharidosis I (MPS I), Firdapse (amifampridine phosphate) for Lambert Eaton Myasthenic Syndrome (LEMS), Kuvan (sapropterin dihydrochloride) for phenylketonuria (PKU), Naglazyme (galsulfase) for Mucopolysaccharidosis VI (MPS VI) and Vimizim (elosulfase alpha) for Mucopolysaccharidosis IV Type A (MPS IV A)..