BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Short Interest Update

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Get Free Report) was the target of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 5,850,000 shares, a decrease of 12.0% from the August 15th total of 6,650,000 shares. Based on an average trading volume of 2,240,000 shares, the short-interest ratio is currently 2.6 days.

BioMarin Pharmaceutical Stock Up 1.0 %

Shares of NASDAQ:BMRN traded up $0.69 on Tuesday, reaching $70.55. The company had a trading volume of 4,645,149 shares, compared to its average volume of 1,901,175. The stock has a market capitalization of $13.40 billion, a P/E ratio of 66.56, a P/E/G ratio of 1.03 and a beta of 0.32. The stock has a 50-day moving average price of $86.58 and a 200 day moving average price of $84.71. BioMarin Pharmaceutical has a twelve month low of $68.83 and a twelve month high of $99.56. The company has a quick ratio of 1.95, a current ratio of 3.05 and a debt-to-equity ratio of 0.11.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last posted its earnings results on Monday, August 5th. The biotechnology company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.39. The firm had revenue of $712.03 million during the quarter, compared to analyst estimates of $660.51 million. BioMarin Pharmaceutical had a return on equity of 6.91% and a net margin of 9.91%. On average, equities analysts expect that BioMarin Pharmaceutical will post 2.4 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BMRN. Innealta Capital LLC acquired a new stake in BioMarin Pharmaceutical in the 2nd quarter valued at approximately $25,000. BOKF NA acquired a new stake in shares of BioMarin Pharmaceutical in the second quarter worth $31,000. Quent Capital LLC increased its position in BioMarin Pharmaceutical by 58.9% during the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company's stock worth $32,000 after acquiring an additional 145 shares during the period. Jones Financial Companies Lllp bought a new stake in BioMarin Pharmaceutical in the 4th quarter valued at $43,000. Finally, Itau Unibanco Holding S.A. bought a new stake in BioMarin Pharmaceutical in the 2nd quarter valued at $47,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BMRN has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their price objective on BioMarin Pharmaceutical from $111.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, September 5th. Royal Bank of Canada decreased their price target on BioMarin Pharmaceutical from $100.00 to $85.00 and set a "sector perform" rating for the company in a research note on Tuesday. Scotiabank cut their price objective on shares of BioMarin Pharmaceutical from $95.00 to $78.00 and set a "sector perform" rating on the stock in a research note on Tuesday. Truist Financial reduced their price objective on shares of BioMarin Pharmaceutical from $118.00 to $90.00 and set a "buy" rating for the company in a report on Tuesday. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $110.00 target price on shares of BioMarin Pharmaceutical in a research note on Monday, September 9th. Eight research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, BioMarin Pharmaceutical has an average rating of "Moderate Buy" and an average price target of $99.90.

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.