Short Interest Coverage: Can Biomarin Pharma Incorporated (NASDAQ:BMRN)’s Tomorrow Be Different? The Stock Had Decline in Shorts

November 28, 2016 - By Hazel Jackson   ·   0 Comments

Short Interest Coverage: Can Biomarin Pharma Incorporated (NASDAQ:BMRN)’s Tomorrow Be Different? The Stock Had Decline in Shorts

The stock of Biomarin Pharma Incorporated (NASDAQ:BMRN) registered a decrease of 5.57% in short interest. BMRN’s total short interest was 7.02M shares in November as published by FINRA. Its down 5.57% from 7.43 million shares, reported previously. With 1.13M shares average volume, it will take short sellers 6 days to cover their BMRN’s short positions. The short interest to Biomarin Pharma Incorporated’s float is 4.32%. The stock increased 1.02% or $0.9 on November 25, hitting $89. BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has declined 1.35% since April 25, 2016 and is downtrending. It has underperformed by 7.37% the S&P500.

BioMarin Pharmaceutical Inc. develops and commercializes pharmaceuticals for various diseases and medical conditions. The company has a market cap of $15.46 billion. The Company’s product portfolio consists of approximately five approved products, and multiple clinical and pre-clinical product candidates. It currently has negative earnings. The Company’s approved products include Vimizim (elosulfase alpha), Naglazyme (galsulfase), Kuvan (sapropterin dihydrochloride), Aldurazyme (laronidase) and Firdapse (amifampridine phosphate).

Insitutional Activity: The institutional sentiment increased to 1.66 in Q2 2016. Its up 0.38, from 1.28 in 2016Q1. The ratio increased, as 34 funds sold all BioMarin Pharmaceutical Inc. shares owned while 104 reduced positions. 37 funds bought stakes while 140 increased positions. They now own 153.99 million shares or 5.12% less from 162.30 million shares in 2016Q1.
Gulf Interest Bancshares (Uk) Limited holds 0.06% of its portfolio in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) for 49,175 shares. Advsrs Asset has invested 0.05% of its portfolio in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN). M&T State Bank Corp holds 13,291 shares or 0.01% of its portfolio. Ibm Retirement Fund holds 0.06% of its portfolio in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) for 19,233 shares. The Pennsylvania-based Nationwide Fund Advisors has invested 0.02% in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN). Rs Invest Mngmt Ltd Company has invested 0.02% of its portfolio in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN). Blue Ridge Capital holds 800,000 shares or 0.8% of its portfolio. Argent has invested 0.3% of its portfolio in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN). Sterling Strategies Limited Liability Company has 0.89% invested in the company for 3,000 shares. Paloma Mngmt accumulated 0.02% or 20,824 shares. Cornerstone has 0.08% invested in the company for 950 shares. Kbc Group Inc Nv has 0.05% invested in the company for 40,908 shares. Loring Wolcott And Coolidge Fiduciary Advsr Llp Ma holds 0% or 1,100 shares in its portfolio. Capstone Asset Mgmt has invested 0.01% of its portfolio in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN). Marshall Wace Limited Liability Partnership, a United Kingdom-based fund reported 77,955 shares.

Insider Transactions: Since May 31, 2016, the stock had 0 buys, and 22 insider sales for $84.09 million net activity. BIENAIME JEAN JACQUES sold $3.81 million worth of stock or 41,666 shares. $397,320 worth of shares were sold by SPIEGELMAN DANIEL K on Monday, August 1. 1,100 BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) shares with value of $104,927 were sold by LAWLIS V BRYAN. Ajer Jeffrey Robert sold $1.77M worth of stock. Shares for $195,030 were sold by Davis George Eric on Thursday, June 16. $1.43 million worth of shares were sold by FUCHS HENRY J on Friday, August 26. On Monday, August 1 Mueller Brian sold $28,700 worth of the stock or 287 shares.

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Ratings Coverage

Out of 16 analysts covering BioMarin Pharmaceutical (NASDAQ:BMRN), 12 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 75% are positive. $175 is the highest target while $99 is the lowest. The $129.27 average target is 45.25% above today’s ($89) stock price. BioMarin Pharmaceutical has been the topic of 36 analyst reports since August 5, 2015 according to StockzIntelligence Inc. Goldman Sachs upgraded the stock to “Conviction Buy” rating in Monday, March 7 report. Credit Suisse maintained it with “Outperform” rating and $109 target price in Tuesday, March 22 report. The stock of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) earned “Buy” rating by William Blair on Wednesday, August 5. The rating was maintained by Barclays Capital on Friday, February 26 with “Overweight”. On Tuesday, February 23 the stock rating was maintained by Oppenheimer with “Perform”. The rating was maintained by Wedbush on Tuesday, September 1 with “Neutral”. The stock of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) earned “Outperform” rating by Leerink Swann on Tuesday, February 23. The company was maintained on Wednesday, August 5 by Deutsche Bank. Stifel Nicolaus maintained BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) on Friday, August 5 with “Buy” rating. On Thursday, November 3 the stock rating was initiated by Deutsche Bank with “Buy”.

BMRN Company Profile

BioMarin Pharmaceutical Inc. (BioMarin), incorporated on October 25, 1996, develops and commercializes pharmaceuticals for various diseases and medical conditions. The Company’s product portfolio consists of approximately five approved products, and multiple clinical and pre-clinical product candidates. The Company’s approved products include Vimizim (elosulfase alpha), Naglazyme (galsulfase), Kuvan (sapropterin dihydrochloride), Aldurazyme (laronidase) and Firdapse (amifampridine phosphate). Vimizim received marketing approval in the United States, the European Union and in other countries. Naglazyme received marketing approval in the United States, the European Union and in other countries. Kuvan was granted marketing approval in the United States and the European Union. Aldurazyme was approved for marketing in the United States, the European Union and in other countries. Firdapse received marketing approval in the European Union.

More news for BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) were recently published by: Nasdaq.com, which released: “Biomarin Pharmaceutical Inc (BMRN) CEO Jean Jacques Bienaime Sold $––.6 …” on November 11, 2016. Nasdaq.com‘s article titled: “Biomarin Pharmaceutical Inc (BMRN) CEO Jean Jacques Bienaime Sold $9.8 million …” and published on November 01, 2016 is yet another important article.

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By Hazel Jackson


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