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

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) was the recipient of a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 5,590,000 shares, an increase of 5.9% from the September 30th total of 5,280,000 shares. Based on an average daily volume of 1,740,000 shares, the short-interest ratio is currently 3.2 days.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ:BMRN opened at $65.89 on Friday. BioMarin Pharmaceutical has a 12 month low of $65.35 and a 12 month high of $99.56. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.05 and a quick ratio of 1.95. The firm has a market capitalization of $12.51 billion, a P/E ratio of 61.58, a P/E/G ratio of 0.81 and a beta of 0.31. The company’s fifty day moving average price is $75.60 and its 200 day moving average price is $80.84.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data 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). BioMarin Pharmaceutical had a return on equity of 6.91% and a net margin of 9.91%. The business had revenue of $746.00 million for the quarter, compared to analysts’ expectations of $703.37 million. During the same period in the previous year, the business posted $0.26 earnings per share. The company’s revenue for the quarter was up 28.4% on a year-over-year basis. As a group, sell-side analysts predict that BioMarin Pharmaceutical will post 2.39 earnings per share for the current fiscal year.

Institutional Trading of BioMarin Pharmaceutical

Hedge funds and other institutional investors have recently made changes to their positions in the company. AGF Management Ltd. purchased a new stake in shares of BioMarin Pharmaceutical in the second quarter valued at about $2,563,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of BioMarin Pharmaceutical during the second quarter valued at approximately $5,627,000. Teachers Retirement System of The State of Kentucky lifted its stake in shares of BioMarin Pharmaceutical by 17.4% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 194,207 shares of the biotechnology company’s stock valued at $15,990,000 after buying an additional 28,837 shares during the period. E Fund Management Co. Ltd. lifted its stake in shares of BioMarin Pharmaceutical by 167.4% during the second quarter. E Fund Management Co. Ltd. now owns 13,480 shares of the biotechnology company’s stock valued at $1,110,000 after buying an additional 8,438 shares during the period. Finally, Tidal Investments LLC lifted its stake in shares of 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 buying an additional 6,906 shares during the period. Hedge funds and other institutional investors own 98.71% of the company’s stock.

Wall Street Analysts Forecast Growth

BMRN has been the subject of several research analyst reports. Evercore ISI reduced their price target on shares of BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. dropped their price objective on shares of BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating for the company in a research note on Wednesday. TD Cowen dropped their price target on shares of BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. William Blair cut shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Finally, Sanford C. Bernstein reduced their target price on shares of BioMarin Pharmaceutical from $116.00 to $90.00 and set an “outperform” rating on the stock in a report on Tuesday, September 17th. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $93.67.

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.