BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) saw a significant drop in short interest during the month of May. As of May 15th, there was short interest totalling 7,475,609 shares, a drop of 2.7% from the April 28th total of 7,684,735 shares. Based on an average daily volume of 1,292,319 shares, the short-interest ratio is presently 5.8 days.
A number of analysts have recently issued reports on the stock. Jefferies Group LLC reiterated a “buy” rating and issued a $116.00 price objective on shares of BioMarin Pharmaceutical in a report on Monday, May 15th. Cowen and Company reiterated a “buy” rating and issued a $150.00 price objective on shares of BioMarin Pharmaceutical in a report on Monday, May 15th. Wedbush reiterated a “hold” rating and issued a $108.00 price objective on shares of BioMarin Pharmaceutical in a report on Monday, May 8th. Zacks Investment Research upgraded shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and set a $107.00 price objective on the stock in a report on Monday, May 1st. Finally, J P Morgan Chase & Co reiterated a “buy” rating on shares of BioMarin Pharmaceutical in a report on Monday, May 1st. Eight analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. BioMarin Pharmaceutical currently has an average rating of “Buy” and a consensus target price of $111.06.
In other news, EVP Jeffrey Robert Ajer sold 3,890 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Wednesday, March 29th. The shares were sold at an average price of $89.15, for a total value of $346,793.50. Following the sale, the executive vice president now directly owns 51,532 shares in the company, valued at $4,594,077.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jean Jacques Bienaime sold 10,000 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $91.69, for a total transaction of $916,900.00. Following the completion of the sale, the chief executive officer now owns 211,364 shares in the company, valued at $19,379,965.16. The disclosure for this sale can be found here. Insiders sold 78,876 shares of company stock worth $7,283,404 over the last quarter. 2.50% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in BMRN. Norges Bank acquired a new stake in shares of BioMarin Pharmaceutical during the fourth quarter valued at about $83,952,000. Viking Global Investors LP raised its stake in shares of BioMarin Pharmaceutical by 185.2% in the fourth quarter. Viking Global Investors LP now owns 1,398,457 shares of the biotechnology company’s stock valued at $115,848,000 after buying an additional 908,153 shares in the last quarter. Primecap Management Co. CA raised its stake in shares of BioMarin Pharmaceutical by 10.5% in the first quarter. Primecap Management Co. CA now owns 8,712,268 shares of the biotechnology company’s stock valued at $764,763,000 after buying an additional 826,320 shares in the last quarter. Jennison Associates LLC raised its stake in shares of BioMarin Pharmaceutical by 6.7% in the first quarter. Jennison Associates LLC now owns 9,871,207 shares of the biotechnology company’s stock valued at $866,495,000 after buying an additional 617,001 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of BioMarin Pharmaceutical by 3.7% in the first quarter. Vanguard Group Inc. now owns 13,702,404 shares of the biotechnology company’s stock valued at $1,202,796,000 after buying an additional 495,118 shares in the last quarter. 96.74% of the stock is owned by hedge funds and other institutional investors.
BioMarin Pharmaceutical (NASDAQ BMRN) opened at 90.39 on Wednesday. The company’s market capitalization is $15.77 billion. BioMarin Pharmaceutical has a 52-week low of $73.45 and a 52-week high of $102.49. The firm’s 50-day moving average is $91.34 and its 200-day moving average is $88.71.
BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Thursday, May 4th. The biotechnology company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.33. BioMarin Pharmaceutical had a negative return on equity of 22.71% and a negative net margin of 48.43%. The firm had revenue of $303.70 million during the quarter, compared to analyst estimates of $292.58 million. During the same period last year, the firm posted ($0.53) EPS. The business’s revenue was up 28.3% compared to the same quarter last year. On average, equities research analysts forecast that BioMarin Pharmaceutical will post ($0.81) EPS for the current year.
About BioMarin Pharmaceutical
BioMarin Pharmaceutical Inc is a biotechnology company. The Company develops and commercializes pharmaceuticals for various diseases and medical conditions. As of December 31, 2016, the Company’s therapy portfolio consisted of five products, and multiple clinical and pre-clinical product candidates. Its commercial products include Aldurazyme (laronidase) for Mucopolysaccharidosis I (MPS I), Firdapse (amifampridine phosphate) for Lambert Eaton Myasthenic Syndrome (LEMS), Kuvan (sapropterin dihydrochloride) for phenylketonuria (PKU), Naglazyme (galsulfase) for Mucopolysaccharidosis VI (MPS VI) and Vimizim (elosulfase alpha) for Mucopolysaccharidosis IV Type A (MPS IV A).
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