BioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Get 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
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:BMRN – Get 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
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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