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

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) saw a large decrease in short interest in August. As of August 31st, there was short interest totalling 5,850,000 shares, a decrease of 12.0% from the August 15th total of 6,650,000 shares. Based on an average daily volume of 2,240,000 shares, the short-interest ratio is presently 2.6 days.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BMRN. Envestnet Portfolio Solutions Inc. boosted its position in BioMarin Pharmaceutical by 1.2% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 10,668 shares of the biotechnology company’s stock worth $932,000 after purchasing an additional 130 shares during the last quarter. Quent Capital LLC boosted its position in BioMarin Pharmaceutical by 58.9% in the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 145 shares during the last quarter. Yousif Capital Management LLC boosted its position in BioMarin Pharmaceutical by 8.9% in the first quarter. Yousif Capital Management LLC now owns 2,414 shares of the biotechnology company’s stock worth $211,000 after purchasing an additional 198 shares during the last quarter. Integrated Advisors Network LLC boosted its position in BioMarin Pharmaceutical by 6.2% in the fourth quarter. Integrated Advisors Network LLC now owns 3,533 shares of the biotechnology company’s stock worth $341,000 after purchasing an additional 206 shares during the last quarter. Finally, SteelPeak Wealth LLC boosted its position in BioMarin Pharmaceutical by 10.9% in the first quarter. SteelPeak Wealth LLC now owns 2,498 shares of the biotechnology company’s stock worth $218,000 after purchasing an additional 246 shares during the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Trading Up 0.8 %

BMRN stock traded up $0.59 during mid-day trading on Wednesday, reaching $71.14. The company’s stock had a trading volume of 2,171,285 shares, compared to its average volume of 1,902,703. The company has a current ratio of 3.05, a quick ratio of 1.95 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical has a 12 month low of $68.83 and a 12 month high of $99.56. The business’s 50 day moving average price is $86.11 and its 200 day moving average price is $84.49. The company has a market cap of $13.51 billion, a price-to-earnings ratio of 66.49, a price-to-earnings-growth ratio of 1.03 and a beta of 0.32.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Monday, August 5th. The biotechnology company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.39. BioMarin Pharmaceutical had a return on equity of 6.91% and a net margin of 9.91%. The firm had revenue of $712.03 million during the quarter, compared to analysts’ expectations of $660.51 million. On average, equities research analysts predict that BioMarin Pharmaceutical will post 2.4 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Royal Bank of Canada dropped their price objective on BioMarin Pharmaceutical from $100.00 to $85.00 and set a “sector perform” rating on the stock in a research note on Tuesday. Piper Sandler upped their price objective on BioMarin Pharmaceutical from $107.00 to $122.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. JPMorgan Chase & Co. increased their target price on BioMarin Pharmaceutical from $111.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. William Blair raised BioMarin Pharmaceutical to a “strong-buy” rating in a report on Friday, August 30th. Finally, Scotiabank reduced their price objective on BioMarin Pharmaceutical from $95.00 to $78.00 and set a “sector perform” rating on the stock in a research note on Tuesday. Eight equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $99.90.

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.