BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) saw a significant increase in short interest in January. As of January 15th, there was short interest totalling 8,700,000 shares, an increase of 14.3% from the December 31st total of 7,610,000 shares. Approximately 4.9% of the company’s shares are short sold. Based on an average trading volume of 1,440,000 shares, the short-interest ratio is currently 6.0 days.
BMRN has been the topic of a number of recent analyst reports. TheStreet raised shares of BioMarin Pharmaceutical from a “d+” rating to a “c-” rating in a research report on Thursday, December 26th. SunTrust Banks started coverage on BioMarin Pharmaceutical in a research report on Tuesday, November 12th. They set a “buy” rating and a $110.00 target price for the company. Nomura cut their target price on BioMarin Pharmaceutical from $93.00 to $77.00 in a research note on Thursday, October 24th. Cantor Fitzgerald reissued a “buy” rating and set a $129.00 price target on shares of BioMarin Pharmaceutical in a research note on Monday, December 16th. Finally, Citigroup restated a “buy” rating and set a $95.00 price objective (down previously from $120.00) on shares of BioMarin Pharmaceutical in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the company’s stock. BioMarin Pharmaceutical currently has a consensus rating of “Buy” and an average target price of $110.67.
Shares of NASDAQ BMRN opened at $86.07 on Wednesday. The firm has a market cap of $15.09 billion, a PE ratio of -331.04 and a beta of 1.39. The company has a quick ratio of 2.53, a current ratio of 3.77 and a debt-to-equity ratio of 0.27. BioMarin Pharmaceutical has a twelve month low of $62.88 and a twelve month high of $100.13. The business has a fifty day simple moving average of $86.10 and a two-hundred day simple moving average of $77.65.
In other BioMarin Pharmaceutical news, EVP George Eric Davis sold 3,190 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $79.66, for a total transaction of $254,115.40. Following the transaction, the executive vice president now owns 68,709 shares in the company, valued at $5,473,358.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jean Jacques Bienaime sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $87.95, for a total transaction of $703,600.00. Following the completion of the sale, the chief executive officer now owns 335,530 shares of the company’s stock, valued at approximately $29,509,863.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,940 shares of company stock valued at $2,730,495. 1.97% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. North Star Investment Management Corp. purchased a new stake in BioMarin Pharmaceutical in the third quarter worth about $25,000. Usca Ria LLC purchased a new position in BioMarin Pharmaceutical during the 3rd quarter valued at about $26,000. Meeder Asset Management Inc. increased its position in BioMarin Pharmaceutical by 73.6% during the 3rd quarter. Meeder Asset Management Inc. now owns 408 shares of the biotechnology company’s stock valued at $27,000 after purchasing an additional 173 shares during the period. Allred Capital Management LLC purchased a new position in BioMarin Pharmaceutical during the 4th quarter valued at about $51,000. Finally, Vista Private Wealth Partners. LLC bought a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter valued at about $52,000. Hedge funds and other institutional investors own 95.85% of the company’s stock.
About BioMarin Pharmaceutical
BioMarin Pharmaceutical Inc, a biotechnology company, develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Aldurazyme to treat mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; 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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