Short Interest in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Expands By 20.6%

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Get Free Report) was the target of a significant 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 daily volume of 1,410,000 shares, the short-interest ratio is currently 2.6 days.

BioMarin Pharmaceutical Stock Down 1.5 %

Shares of BMRN traded down $1.26 on Friday, hitting $80.91. 2,257,132 shares of the stock traded hands, compared to its average volume of 1,697,110. The company has a market capitalization of $15.27 billion, a PE ratio of 75.62, a P/E/G ratio of 1.49 and a beta of 0.31. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.57 and a current ratio of 2.51. The business has a 50 day simple moving average of $87.58 and a 200 day simple moving average of $89.14. BioMarin Pharmaceutical has a one year low of $76.02 and a one year high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The biotechnology company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.05. The company had revenue of $646.21 million during the quarter, compared to the consensus estimate of $639.53 million. BioMarin Pharmaceutical had a net margin of 8.31% and a return on equity of 5.39%. The firm's quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.11 earnings per share. As a group, equities analysts forecast that BioMarin Pharmaceutical will post 1.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Robert W. Baird lowered their price objective on shares of BioMarin Pharmaceutical from $127.00 to $104.00 and set an "outperform" rating for the company in a research note on Tuesday, January 30th. Citigroup decreased their price target on shares of BioMarin Pharmaceutical from $94.00 to $91.00 and set a "neutral" rating for the company in a research note on Thursday. Royal Bank of Canada reissued a "sector perform" rating and issued a $100.00 price target on shares of BioMarin Pharmaceutical in a research note on Friday, February 23rd. Piper Sandler decreased their price target on shares of BioMarin Pharmaceutical from $115.00 to $107.00 and set an "overweight" rating for the company in a research note on Friday, February 23rd. Finally, Canaccord Genuity Group decreased their price target on shares of BioMarin Pharmaceutical from $91.00 to $89.00 and set a "hold" rating for the company in a research note on Friday. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $107.50.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, EVP Jeffrey Robert Ajer sold 4,000 shares of the business's stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $87.07, for a total value of $348,280.00. Following the completion of the sale, the executive vice president now directly owns 94,047 shares of the company's stock, valued at $8,188,672.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Erin Burkhart sold 2,286 shares of the company's stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $90.00, for a total transaction of $205,740.00. Following the completion of the transaction, the chief accounting officer now directly owns 16,156 shares of the company's stock, valued at $1,454,040. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Jeffrey Robert Ajer sold 4,000 shares of the company's stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $87.07, for a total transaction of $348,280.00. Following the transaction, the executive vice president now directly owns 94,047 shares of the company's stock, valued at $8,188,672.29. The disclosure for this sale can be found here. Insiders sold 103,229 shares of company stock valued at $9,062,967 over the last three months. Insiders own 1.84% of the company's stock.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Several institutional investors and hedge funds have recently made changes to their positions in the company. CWM LLC grew its position in BioMarin Pharmaceutical by 10.0% in the 3rd quarter. CWM LLC now owns 1,301 shares of the biotechnology company's stock worth $115,000 after purchasing an additional 118 shares during the period. Handelsbanken Fonder AB grew its position in BioMarin Pharmaceutical by 1.8% in the 3rd quarter. Handelsbanken Fonder AB now owns 91,755 shares of the biotechnology company's stock worth $8,118,000 after purchasing an additional 1,593 shares during the period. Simplicity Solutions LLC grew its position in BioMarin Pharmaceutical by 8.4% in the 3rd quarter. Simplicity Solutions LLC now owns 2,971 shares of the biotechnology company's stock worth $263,000 after purchasing an additional 229 shares during the period. AMI Asset Management Corp bought a new stake in BioMarin Pharmaceutical in the 3rd quarter worth approximately $27,838,000. Finally, Commonwealth Equity Services LLC grew its position in BioMarin Pharmaceutical by 8.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 7,413 shares of the biotechnology company's stock worth $656,000 after purchasing an additional 568 shares during the period. Institutional investors own 98.71% of the company's stock.

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.