BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Sees Significant Increase in Short Interest

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) was the target of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 3,690,000 shares, a growth of 20.6% from the March 31st total of 3,060,000 shares. Based on an average trading volume of 1,410,000 shares, the days-to-cover ratio is presently 2.6 days.

Insider Transactions at BioMarin Pharmaceutical

In other news, Director Jean Jacques Bienaime sold 15,000 shares of BioMarin Pharmaceutical stock in a transaction on Friday, February 9th. The shares were sold at an average price of $88.28, for a total transaction of $1,324,200.00. Following the transaction, the director now owns 419,602 shares in the company, valued at approximately $37,042,464.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Jean Jacques Bienaime sold 15,000 shares of BioMarin Pharmaceutical stock in a transaction on Friday, February 9th. The shares were sold at an average price of $88.28, for a total transaction of $1,324,200.00. Following the transaction, the director now owns 419,602 shares in the company, valued at approximately $37,042,464.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Erin Burkhart sold 2,286 shares of BioMarin Pharmaceutical stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $90.00, for a total transaction of $205,740.00. Following the transaction, the chief accounting officer now owns 16,156 shares in the company, valued at approximately $1,454,040. The disclosure for this sale can be found here. Insiders have sold 103,229 shares of company stock worth $9,062,967 in the last 90 days. 1.85% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. KB Financial Partners LLC increased its stake in BioMarin Pharmaceutical by 51.3% during the 3rd quarter. KB Financial Partners LLC now owns 348 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 118 shares in the last quarter. Lindbrook Capital LLC increased its stake in shares of BioMarin Pharmaceutical by 259.8% in the fourth quarter. Lindbrook Capital LLC now owns 385 shares of the biotechnology company’s stock worth $37,000 after acquiring an additional 278 shares during the period. Castleview Partners LLC acquired a new stake in shares of BioMarin Pharmaceutical in the third quarter worth $35,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of BioMarin Pharmaceutical by 135.3% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 433 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 249 shares during the period. Finally, Jones Financial Companies Lllp acquired a new stake in shares of BioMarin Pharmaceutical in the fourth quarter worth $43,000. Institutional investors and hedge funds own 98.71% of the company’s stock.

Wall Street Analysts Forecast Growth

BMRN has been the topic of a number of research reports. Canaccord Genuity Group reduced their price target on shares of BioMarin Pharmaceutical from $91.00 to $89.00 and set a “hold” rating on the stock in a report on Friday. Morgan Stanley reduced their price target on shares of BioMarin Pharmaceutical from $115.00 to $112.00 and set an “overweight” rating on the stock in a report on Friday. Scotiabank boosted their target price on shares of BioMarin Pharmaceutical from $83.00 to $85.00 and gave the stock a “sector perform” rating in a report on Thursday. Cantor Fitzgerald restated an “overweight” rating and issued a $110.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday. Finally, Wells Fargo & Company boosted their target price on shares of BioMarin Pharmaceutical from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $107.50.

BioMarin Pharmaceutical Stock Up 1.5 %

Shares of NASDAQ BMRN traded up $1.22 during trading hours on Monday, hitting $82.13. 2,004,127 shares of the stock were exchanged, compared to its average volume of 1,453,980. The company has a quick ratio of 1.57, a current ratio of 2.51 and a debt-to-equity ratio of 0.12. The company has a market cap of $15.50 billion, a PE ratio of 75.62, a PEG ratio of 1.36 and a beta of 0.31. The firm has a fifty day moving average price of $87.58 and a 200-day moving average price of $89.14. BioMarin Pharmaceutical has a 12 month low of $76.02 and a 12 month high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Thursday, February 22nd. The biotechnology company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.44 by $0.05. The firm had revenue of $646.21 million during the quarter, compared to analyst estimates of $639.53 million. BioMarin Pharmaceutical had a net margin of 8.31% and a return on equity of 5.39%. BioMarin Pharmaceutical’s revenue was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.11 EPS. On average, sell-side analysts expect that BioMarin Pharmaceutical will post 1.85 EPS for the current 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.