BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 8,700,000 shares, an increase of 14.3% from the December 15th total of 7,610,000 shares. Based on an average trading volume of 1,450,000 shares, the short-interest ratio is presently 6.0 days. Currently, 4.9% of the shares of the stock are sold short.
BMRN has been the topic of a number of research reports. Robert W. Baird reiterated a “buy” rating and issued a $120.00 target price on shares of BioMarin Pharmaceutical in a report on Friday, December 13th. Royal Bank of Canada restated a “hold” rating and set a $111.00 price target on shares of BioMarin Pharmaceutical in a report on Monday, December 16th. Wedbush restated a “buy” rating and set a $158.00 price target on shares of BioMarin Pharmaceutical in a report on Monday, December 23rd. Citigroup restated a “buy” rating and set a $95.00 price target (down previously from $120.00) on shares of BioMarin Pharmaceutical in a report on Wednesday, October 30th. Finally, Barclays upgraded shares of BioMarin Pharmaceutical from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $86.00 to $98.00 in a research note on Wednesday, November 27th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $110.41.
Shares of BMRN stock opened at $88.27 on Tuesday. The business’s 50 day simple moving average is $83.34 and its 200 day simple moving average is $77.30. BioMarin Pharmaceutical has a one year low of $62.88 and a one year high of $100.13. The stock has a market capitalization of $16.36 billion, a PE ratio of -267.48 and a beta of 1.32. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.77 and a quick ratio of 2.53.
BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Wednesday, October 23rd. The biotechnology company reported $0.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.25. The business had revenue of $461.10 million for the quarter, compared to analysts’ expectations of $455.78 million. BioMarin Pharmaceutical had a negative return on equity of 1.35% and a negative net margin of 2.65%. The firm’s revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.07) earnings per share. As a group, research analysts expect that BioMarin Pharmaceutical will post 0.01 earnings per share for the current year.
In other news, CEO Jean Jacques Bienaime sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $77.60, for a total value of $776,000.00. Following the completion of the sale, the chief executive officer now directly owns 327,070 shares of the company’s stock, valued at approximately $25,380,632. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP George Eric Davis sold 3,190 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $79.66, for a total transaction of $254,115.40. Following the completion of the sale, the executive vice president now directly owns 68,709 shares of the company’s stock, valued at $5,473,358.94. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,940 shares of company stock valued at $2,374,645. Company insiders own 1.97% of the company’s stock.
Several institutional investors have recently bought and sold shares of the business. Appleton Partners Inc. MA boosted its holdings in shares of BioMarin Pharmaceutical by 9.2% during the 4th quarter. Appleton Partners Inc. MA now owns 6,140 shares of the biotechnology company’s stock worth $519,000 after buying an additional 515 shares in the last quarter. DNB Asset Management AS boosted its holdings in shares of BioMarin Pharmaceutical by 411.5% during the 4th quarter. DNB Asset Management AS now owns 93,823 shares of the biotechnology company’s stock worth $7,933,000 after buying an additional 75,480 shares in the last quarter. Allred Capital Management LLC bought a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth approximately $51,000. Manning & Napier Group LLC boosted its holdings in shares of BioMarin Pharmaceutical by 50.7% during the 4th quarter. Manning & Napier Group LLC now owns 1,100,191 shares of the biotechnology company’s stock worth $93,020,000 after buying an additional 370,098 shares in the last quarter. Finally, Scout Investments Inc. boosted its holdings in shares of BioMarin Pharmaceutical by 246.0% during the 4th quarter. Scout Investments Inc. now owns 401,147 shares of the biotechnology company’s stock worth $33,917,000 after buying an additional 285,203 shares in the last quarter. Hedge funds and other institutional investors own 95.51% of the company’s stock.
About BioMarin Pharmaceutical
BioMarin Pharmaceutical Inc, a biotechnology company, develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Aldurazyme to treat mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.
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