BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Short Interest Up 5.9% in October

BioMarin Pharmaceutical Inc. (NASDAQ:BMRNGet Free Report) saw 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 trading volume of 1,740,000 shares, the short-interest ratio is currently 3.2 days.

Analyst Upgrades and Downgrades

BMRN has been the subject of a number of analyst reports. Canaccord Genuity Group dropped their price target on BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating for the company in a research report on Wednesday. Raymond James reiterated an “outperform” rating and set a $79.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, October 10th. StockNews.com raised shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Robert W. Baird reduced their target price on shares of BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Wells Fargo & Company dropped their price target on shares of BioMarin Pharmaceutical from $115.00 to $90.00 and set an “overweight” rating for the company in a research note on Tuesday, September 17th. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $93.67.

Get Our Latest Stock Report on BMRN

Institutional Investors Weigh In On BioMarin Pharmaceutical

Several large investors have recently bought and sold shares of BMRN. Innealta Capital LLC purchased a new position in shares of BioMarin Pharmaceutical in the 2nd quarter valued at about $25,000. nVerses Capital LLC purchased a new position in BioMarin Pharmaceutical in the third quarter worth approximately $28,000. BOKF NA acquired a new position in BioMarin Pharmaceutical during the 2nd quarter worth approximately $31,000. Quent Capital LLC grew its holdings in BioMarin Pharmaceutical by 58.9% during the 2nd quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 145 shares in the last quarter. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of BioMarin Pharmaceutical in the 2nd quarter valued at approximately $47,000. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Trading Up 1.1 %

Shares of BMRN stock opened at $66.60 on Friday. The stock has a market capitalization of $12.65 billion, a P/E ratio of 39.88, a price-to-earnings-growth ratio of 0.77 and a beta of 0.31. BioMarin Pharmaceutical has a fifty-two week low of $65.35 and a fifty-two week high of $99.56. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.95 and a current ratio of 4.27. The company has a 50 day moving average price of $75.13 and a 200 day moving average price of $80.67.

BioMarin Pharmaceutical (NASDAQ:BMRNGet Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.23). The business had revenue of $746.00 million during the quarter, compared to analyst estimates of $703.37 million. BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The business’s revenue was up 28.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.26 EPS. Equities research analysts predict that BioMarin Pharmaceutical will post 2.39 EPS for the current fiscal year.

BioMarin Pharmaceutical Company Profile

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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.

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