Metis Global Partners LLC Boosts Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Metis Global Partners LLC increased its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 9.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,450 shares of the biotechnology company’s stock after buying an additional 480 shares during the quarter. Metis Global Partners LLC’s holdings in BioMarin Pharmaceutical were worth $383,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in shares of BioMarin Pharmaceutical by 1,858.6% during the second quarter. Principal Financial Group Inc. now owns 649,460 shares of the biotechnology company’s stock worth $53,470,000 after acquiring an additional 616,301 shares during the last quarter. Assenagon Asset Management S.A. grew its position in BioMarin Pharmaceutical by 11,107.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 352,474 shares of the biotechnology company’s stock worth $29,019,000 after purchasing an additional 349,329 shares during the last quarter. Rhumbline Advisers increased its stake in BioMarin Pharmaceutical by 122.1% in the second quarter. Rhumbline Advisers now owns 551,553 shares of the biotechnology company’s stock valued at $45,409,000 after purchasing an additional 303,207 shares during the period. Swedbank AB purchased a new stake in shares of BioMarin Pharmaceutical in the first quarter valued at about $25,864,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of BioMarin Pharmaceutical by 38.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,034,457 shares of the biotechnology company’s stock worth $85,178,000 after buying an additional 289,953 shares during the period. Institutional investors and hedge funds own 98.71% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Charles Greg Guyer sold 5,278 shares of the stock in a transaction that occurred on 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 $4,573,490.33. This represents a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.85% of the stock is currently owned by company insiders.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN stock opened at $61.93 on Tuesday. The stock has a fifty day moving average price of $69.99 and a 200 day moving average price of $78.96. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 4.27. The stock has a market cap of $11.80 billion, a PE ratio of 37.08, a P/E/G ratio of 0.63 and a beta of 0.31. BioMarin Pharmaceutical Inc. has a 1 year low of $61.40 and a 1 year high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.23). BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The firm had revenue of $746.00 million for the quarter, compared to analyst estimates of $703.37 million. During the same period last year, the firm earned $0.26 EPS. The company’s quarterly revenue was up 28.4% compared to the same quarter last year. Sell-side analysts forecast that BioMarin Pharmaceutical Inc. will post 2.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BMRN shares. Canaccord Genuity Group dropped their price target on BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a research report on Wednesday, October 30th. Evercore ISI dropped their target price on BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Raymond James reaffirmed an “outperform” rating and set a $79.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, October 10th. Stifel Nicolaus dropped their price objective on shares of BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Finally, William Blair cut shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Seven equities research 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $94.20.

BioMarin Pharmaceutical 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.