BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Short Interest Down 9.4% in December

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Get Free Report) saw a large decline in short interest during the month of December. As of December 15th, there was short interest totalling 5,210,000 shares, a decline of 9.4% from the November 30th total of 5,750,000 shares. Based on an average daily volume of 1,470,000 shares, the days-to-cover ratio is currently 3.5 days.

Insider Activity at BioMarin Pharmaceutical

In related news, EVP Charles Greg Guyer sold 5,278 shares of the firm's stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total transaction of $350,300.86. Following the sale, the executive vice president now owns 68,909 shares of the company's stock, valued at $4,573,490.33. This trade represents a 7.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.85% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Large investors have recently modified their holdings of the company. nVerses Capital LLC purchased a new position in BioMarin Pharmaceutical during the 3rd quarter worth $28,000. BOKF NA purchased a new position in shares of BioMarin Pharmaceutical in the 2nd quarter worth approximately $31,000. TD Private Client Wealth LLC boosted its stake 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 buying an additional 186 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of BioMarin Pharmaceutical in the second quarter valued at approximately $47,000. Finally, Meeder Asset Management Inc. increased its position in shares of BioMarin Pharmaceutical by 920.8% during the third quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company's stock valued at $52,000 after acquiring an additional 663 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BMRN has been the topic of a number of recent research reports. Scotiabank cut their price target on BioMarin Pharmaceutical from $95.00 to $78.00 and set a "sector perform" rating on the stock in a research note on Tuesday, September 17th. Robert W. Baird cut their target price on shares of BioMarin Pharmaceutical from $72.00 to $65.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 30th. Stifel Nicolaus decreased their price target on shares of BioMarin Pharmaceutical from $115.00 to $87.00 and set a "buy" rating for the company in a research report on Tuesday, September 17th. Citigroup cut their price target on shares of BioMarin Pharmaceutical from $93.00 to $81.00 and set a "neutral" rating on the stock in a report on Wednesday, October 30th. Finally, Wedbush upgraded BioMarin Pharmaceutical to a "strong-buy" rating in a report on Monday, November 4th. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $94.20.

BioMarin Pharmaceutical Stock Up 0.4 %

BMRN traded up $0.28 during midday trading on Tuesday, hitting $65.73. The company had a trading volume of 790,724 shares, compared to its average volume of 1,786,631. The company has a market capitalization of $12.53 billion, a price-to-earnings ratio of 39.36, a PEG ratio of 0.65 and a beta of 0.29. The stock's 50 day moving average price is $66.05 and its 200 day moving average price is $75.94. The company has a quick ratio of 2.62, a current ratio of 4.27 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical has a 52 week low of $61.15 and a 52 week high of $99.25.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing analysts' consensus estimates of $0.78 by ($0.23). BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The firm had revenue of $746.00 million for the quarter, compared to analyst estimates of $703.37 million. During the same period last year, the company posted $0.26 earnings per share. The firm's quarterly revenue was up 28.4% compared to the same quarter last year. On average, research analysts anticipate that BioMarin Pharmaceutical will post 2.49 earnings per share for the current fiscal 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.