BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC reduced its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,372 shares of the biotechnology company’s stock after selling 1,597 shares during the period. MetLife Investment Management LLC’s holdings in BioMarin Pharmaceutical were worth $6,915,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new position in BioMarin Pharmaceutical in the second quarter valued at $25,000. nVerses Capital LLC purchased a new position in shares of BioMarin Pharmaceutical in the 3rd quarter valued at about $28,000. BOKF NA acquired a new position in BioMarin Pharmaceutical in the 2nd quarter worth about $31,000. Quent Capital LLC boosted its position in BioMarin Pharmaceutical by 58.9% during the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 145 shares in the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new stake in BioMarin Pharmaceutical in the second quarter valued at approximately $47,000. 98.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BMRN has been the subject of several research analyst reports. Wells Fargo & Company reduced their target price on BioMarin Pharmaceutical from $115.00 to $90.00 and set an “overweight” rating for the company in a research note on Tuesday, September 17th. Bank of America reduced their price objective on shares of BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Sanford C. Bernstein dropped their target price on shares of BioMarin Pharmaceutical from $116.00 to $90.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 17th. Barclays reduced their price target on shares of BioMarin Pharmaceutical from $110.00 to $86.00 and set an “overweight” rating for the company in a research report on Friday, October 4th. Finally, Raymond James reiterated an “outperform” rating and issued a $79.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, October 10th. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $94.20.

Insider Buying and Selling

In related news, EVP Charles Greg Guyer sold 5,278 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total value of $350,300.86. Following the sale, the executive vice president now directly owns 68,909 shares in the company, valued at approximately $4,573,490.33. The trade was a 7.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.85% of the stock is currently owned by company insiders.

BioMarin Pharmaceutical Trading Up 0.9 %

Shares of BMRN stock opened at $66.03 on Friday. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a twelve month low of $61.15 and a twelve month high of $99.56. The company’s 50-day moving average price is $67.72 and its 200-day moving average price is $77.91. The stock has a market cap of $12.58 billion, a price-to-earnings ratio of 39.54, a PEG ratio of 0.64 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.23). The firm had revenue of $746.00 million during the quarter, compared to analyst estimates of $703.37 million. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The business’s revenue for the quarter was up 28.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.26 earnings per share. As a group, equities analysts predict that BioMarin Pharmaceutical Inc. will post 2.49 earnings per share for the current year.

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.