BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Short Interest Up 12.3% in November

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) was the recipient of a large increase in short interest in November. As of November 30th, there was short interest totalling 5,750,000 shares, an increase of 12.3% from the November 15th total of 5,120,000 shares. Based on an average daily trading volume, of 1,750,000 shares, the days-to-cover ratio is currently 3.3 days.

Analysts Set New Price Targets

Several research firms have recently issued reports on BMRN. Piper Sandler increased their target price on BioMarin Pharmaceutical from $107.00 to $122.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. UBS Group increased their price objective on shares of BioMarin Pharmaceutical from $104.00 to $106.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Sanford C. Bernstein cut their price target on shares of BioMarin Pharmaceutical from $116.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, September 17th. William Blair cut shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Finally, Citigroup lowered their price objective on shares of BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $94.20.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, EVP Charles Greg Guyer sold 5,278 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total value of $350,300.86. Following the completion of the sale, the executive vice president now directly owns 68,909 shares in the company, valued at approximately $4,573,490.33. The trade was a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.85% of the company’s stock.

Institutional Investors Weigh In On BioMarin Pharmaceutical

A number of institutional investors have recently made changes to their positions in the stock. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of BioMarin Pharmaceutical by 0.8% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 21,105 shares of the biotechnology company’s stock worth $1,483,000 after acquiring an additional 173 shares during the period. Advisors Asset Management Inc. raised its holdings in BioMarin Pharmaceutical by 1.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 11,451 shares of the biotechnology company’s stock worth $805,000 after purchasing an additional 180 shares during the last quarter. TD Private Client Wealth LLC lifted its position in shares of BioMarin Pharmaceutical by 57.4% in the 3rd quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 186 shares during the period. Voisard Asset Management Group Inc. boosted its stake in shares of BioMarin Pharmaceutical by 17.8% in the 3rd quarter. Voisard Asset Management Group Inc. now owns 1,355 shares of the biotechnology company’s stock valued at $95,000 after purchasing an additional 205 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of BioMarin Pharmaceutical by 56.1% during the third quarter. GAMMA Investing LLC now owns 782 shares of the biotechnology company’s stock worth $55,000 after buying an additional 281 shares during the period. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Trading Down 0.4 %

NASDAQ:BMRN traded down $0.25 during mid-day trading on Friday, hitting $66.01. 772,385 shares of the company’s stock were exchanged, compared to its average volume of 1,805,603. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical has a fifty-two week low of $61.15 and a fifty-two week high of $99.56. The company has a 50 day simple moving average of $66.97 and a 200-day simple moving average of $77.16. The firm has a market capitalization of $12.58 billion, a P/E ratio of 39.53, a PEG ratio of 0.65 and a beta of 0.29.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). The business had revenue of $746.00 million for 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%. BioMarin Pharmaceutical’s revenue for the quarter was up 28.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.26 EPS. As a group, research analysts expect that BioMarin Pharmaceutical will post 2.49 earnings per share for the current year.

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.