BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Stock Position Lifted by MetLife Investment Management LLC

MetLife Investment Management LLC lifted its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 9.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 107,403 shares of the biotechnology company's stock after buying an additional 9,031 shares during the period. MetLife Investment Management LLC owned 0.06% of BioMarin Pharmaceutical worth $7,060,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Virtu Financial LLC bought a new position in BioMarin Pharmaceutical during the third quarter valued at about $809,000. Tidal Investments LLC grew its position in BioMarin Pharmaceutical by 150.4% during the third quarter. Tidal Investments LLC now owns 30,467 shares of the biotechnology company's stock valued at $2,142,000 after purchasing an additional 18,300 shares in the last quarter. Synovus Financial Corp grew its stake in BioMarin Pharmaceutical by 25.7% in the third quarter. Synovus Financial Corp now owns 30,253 shares of the biotechnology company's stock valued at $2,127,000 after purchasing an additional 6,191 shares in the last quarter. GAMMA Investing LLC increased its holdings in BioMarin Pharmaceutical by 57.5% in the fourth quarter. GAMMA Investing LLC now owns 1,232 shares of the biotechnology company's stock worth $81,000 after buying an additional 450 shares during the last quarter. Finally, Everence Capital Management Inc. acquired a new stake in shares of BioMarin Pharmaceutical in the 4th quarter valued at $333,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock opened at $61.50 on Wednesday. The stock's 50 day moving average is $66.54 and its 200 day moving average is $66.13. BioMarin Pharmaceutical Inc. has a one year low of $52.93 and a one year high of $94.85. The firm has a market cap of $11.73 billion, a P/E ratio of 27.95, a P/E/G ratio of 0.61 and a beta of 0.30. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.18. The company had revenue of $747.31 million during the quarter, compared to analysts' expectations of $711.05 million. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. As a group, research analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $70.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. UBS Group boosted their target price on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Piper Sandler raised their price target on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Scotiabank upped their price objective on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a "sector perform" rating in a report on Thursday, February 20th. Finally, Citigroup lifted their price target on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the stock a "neutral" rating in a research report on Thursday, February 20th. Seven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical has an average rating of "Moderate Buy" and an average target price of $94.00.

Insider Activity

In related news, CAO Erin Burkhart sold 1,295 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total transaction of $92,618.40. Following the transaction, the chief accounting officer now directly owns 16,955 shares of the company's stock, valued at $1,212,621.60. This represents a 7.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.85% of the stock is owned by company insiders.

BioMarin Pharmaceutical Company Profile

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.

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