Short Interest in BioMarin Pharmaceutical Decreases By 14.9% (BMRN)
BioMarin Pharmaceutical (NASDAQ:BMRN) saw a significant decline in short interest in June. As of June 13th, there was short interest totalling 4,879,328 shares, a decline of 14.9% from the May 30th total of 5,731,273 shares, American Banking News.com reports. Based on an average daily volume of 1,538,819 shares, the days-to-cover ratio is currently 3.2 days. Currently, 3.4% of the shares of the stock are sold short.
BMRN has been the subject of a number of recent research reports. Analysts at Credit Suisse upgraded shares of BioMarin Pharmaceutical from a “neutral” rating to an “outperform” rating in a research note on Monday, June 9th. They now have a $73.00 price target on the stock, up previously from $61.74. Separately, analysts at Zacks reiterated a “neutral” rating on shares of BioMarin Pharmaceutical in a research note on Monday, May 5th. They now have a $61.00 price target on the stock. Finally, analysts at Nomura reiterated a “neutral” rating on shares of BioMarin Pharmaceutical in a research note on Friday, May 2nd. They now have a $77.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. BioMarin Pharmaceutical has an average rating of “Hold” and an average price target of $80.57.
Shares of BioMarin Pharmaceutical (NASDAQ:BMRN) opened at 62.21 on Tuesday. BioMarin Pharmaceutical has a 1-year low of $55.04 and a 1-year high of $84.25. The stock’s 50-day moving average is $60.21 and its 200-day moving average is $67.14. The company’s market cap is $9.078 billion.
BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.01) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.44) by $0.43. The company had revenue of $151.60 million for the quarter, compared to the consensus estimate of $145.16 million. During the same quarter in the prior year, the company posted ($0.31) earnings per share. The company’s quarterly revenue was up 18.5% on a year-over-year basis. On average, analysts predict that BioMarin Pharmaceutical will post $-1.72 earnings per share for the current fiscal year.
BioMarin Pharmaceutical Inc (NASDAQ:BMRN) develops and commercializes pharmaceuticals for serious diseases and medical conditions.
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