BioMarin Pharmaceutical June 15th Short Interest Update

BioMarin Pharmaceutical (NASDAQ:BMRN) encountered a drop of 7% or -425,882 shares in the short positions. The number dropped from 6,126,633 on May 31,2016 to 5,700,751 on June 15,2016. The final interest is 3.5% of the floated stock. The days to cover figure of 5 can be arrived using the average daily exchange of 1,233,248 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

BioMarin Pharmaceutical (NASDAQ:BMRN): The stock opened at $79.56 on Friday but the bulls could not build on the opening and the stock topped out at $83.40 for the day. The stock traded down to $76.76 during the day, due to lack of any buying support eventually closed down at $77.01 with a loss of -7.94% for the day. The stock had closed at $83.65 on the previous day. The total traded volume was 2,572,521 shares.

The company shares have dropped -41.80% from its 1 Year high price. On Jul 20, 2015, the shares registered one year high at $151.75 and the one year low was seen on Feb 9, 2016. The 50-Day Moving Average price is $84.69 and the 200 Day Moving Average price is recorded at $85.62.

BioMarin Pharmaceutical (NASDAQ:BMRN) has tumbled 8.17% during the past week and has dropped 13.56% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 6.64%. BioMarin Pharmaceutical (NASDAQ:BMRN) has underperformed the index by 10.94% in the last 4 weeks. Investors should watch out for further signals and trade with caution.

BioMarin Pharmaceutical Inc. develops and commercializes pharmaceuticals for serious diseases and medical conditions. The Companys product portfolio is comprised of five approved products and multiple clinical and pre-clinical product candidates. Its approved products are 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 subsequently in several other countries. Naglazyme received marketing approval in the United States, the European Union and subsequently in other countries. Kuvan was granted marketing approval in the United States, the European Union. Aldurazyme, which was developed in collaboration with Genzyme Corporation (Genzyme), was approved for marketing in the United States, the European Union, and subsequently in other countries. Firdapse was approved by the European Medicines Agency (EMA).

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