Could Biomarin Pharma Incorporated (NASDAQ:BMRN) Change Direction After More Shorts?

July 6, 2017 - By Richard Conner

 Could Biomarin Pharma Incorporated (NASDAQ:BMRN) Change Direction After More Shorts?

Investors sentiment decreased to 1.04 in 2016 Q4. Its down 0.62, from 1.66 in 2016Q3. It worsened, as 50 investors sold BioMarin Pharmaceutical Inc. shares while 129 reduced holdings. 50 funds opened positions while 136 raised stakes. 165.79 million shares or 0.67% more from 164.68 million shares in 2016Q3 were reported.
Gam Hldgs Ag holds 0.03% of its portfolio in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) for 17,951 shares. Victory Capital Mgmt Inc reported 0.3% in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN). Moreover, Family has 0.17% invested in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) for 3,000 shares. Regent Inv Mngmt Limited Liability Company accumulated 0.14% or 3,375 shares. Fifth Third Bank & Trust invested 0% of its portfolio in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN). Commonwealth Commercial Bank Of Aus accumulated 0% or 681 shares. Amici Cap Limited Com holds 13.19% of its portfolio in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) for 409,818 shares. Putnam Invs Limited Liability invested in 718,883 shares or 0.14% of the stock. Hutchin Hill Capital Limited Partnership holds 0.15% or 51,500 shares in its portfolio. Amp Invsts invested 0.07% of its portfolio in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN). One National Association holds 9,754 shares. Catawba Management Va invested in 4,155 shares or 0.08% of the stock. Essex Inv Co Ltd has invested 0.12% in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN). Sectoral Asset Mgmt, a Quebec – Canada-based fund reported 492,100 shares. Highbridge Capital Mngmt Ltd Liability Co invested 0.17% in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN).

Since January 9, 2017, it had 0 buys, and 28 sales for $17.85 million activity. $29,215 worth of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) was sold by Ajer Jeffrey Robert on Tuesday, May 2. On Wednesday, March 15 the insider SPIEGELMAN DANIEL K sold $182,908. 5,000 BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) shares with value of $441,900 were sold by BIENAIME JEAN JACQUES. Davis George Eric had sold 9,471 shares worth $862,230 on Monday, June 5. $712,500 worth of stock was sold by LAWLIS V BRYAN on Wednesday, March 1. Shares for $687,334 were sold by Mueller Brian. Another trade for 15,000 shares valued at $1.35 million was sold by FUCHS HENRY J.

The stock of Biomarin Pharma Incorporated (NASDAQ:BMRN) registered an increase of 6.62% in short interest. BMRN’s total short interest was 8.19 million shares in July as published by FINRA. Its up 6.62% from 7.69M shares, reported previously. With 1.00M shares average volume, it will take short sellers 8 days to cover their BMRN’s short positions. The short interest to Biomarin Pharma Incorporated’s float is 4.77%.

The stock increased 1.66% or $1.5 during the last trading session, reaching $92.01. About shares traded. BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has risen 5.29% since July 6, 2016 and is uptrending. It has underperformed by 11.41% the S&P500.

BioMarin Pharmaceutical Inc. is a biotechnology company. The company has market cap of $16.00 billion. The Firm develops and commercializes pharmaceuticals for various diseases and medical conditions. It currently has negative earnings. As of December 31, 2016, the Company’s therapy portfolio consisted of five products, and multiple clinical and pre-clinical product candidates.

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Ratings Coverage

Among 20 analysts covering BioMarin Pharmaceutical (NASDAQ:BMRN), 13 have Buy rating, 0 Sell and 7 Hold. Therefore 65% are positive. BioMarin Pharmaceutical had 43 analyst reports since August 5, 2015 according to SRatingsIntel. The firm has “Hold” rating by Wedbush given on Wednesday, August 5. On Monday, November 7 the stock rating was downgraded by Piper Jaffray to “Neutral”. The company was initiated on Thursday, November 3 by Deutsche Bank. The stock has “Neutral” rating by Wedbush on Monday, October 5. As per Wednesday, November 18, the company rating was initiated by Goldman Sachs. The firm earned “Buy” rating on Tuesday, August 25 by Cowen & Co. Wedbush maintained it with “Neutral” rating and $117.0 target in Tuesday, January 19 report. As per Tuesday, February 7, the company rating was initiated by Morgan Stanley. The rating was maintained by Jefferies on Wednesday, May 31 with “Buy”. William Blair maintained it with “Buy” rating and $160 target in Wednesday, August 5 report.

More recent BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) news were published by: Zacks.com which released: “BioMarin (BMRN) Down 8% Since Earnings Report: Can It Rebound?” on June 08, 2017. Also Zacks.com published the news titled: “BioMarin Files BLA for Phenylketonuria Candidate Pegvaliase” on July 03, 2017. Prnewswire.com‘s news article titled: “BioMarin Announces Acceptance of Late Breaking Abstract at the International …” with publication date: June 16, 2017 was also an interesting one.

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