Metis Global Partners LLC Increases Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Metis Global Partners LLC boosted its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 9.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,450 shares of the biotechnology company’s stock after buying an additional 480 shares during the period. Metis Global Partners LLC’s holdings in BioMarin Pharmaceutical were worth $383,000 at the end of the most recent quarter.

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

BioMarin Pharmaceutical Stock Down 2.3 %

BMRN stock opened at $61.93 on Tuesday. The company’s 50 day moving average price is $69.99 and its 200 day moving average price is $78.96. The firm has a market capitalization of $11.80 billion, a price-to-earnings ratio of 37.08, a PEG ratio of 0.63 and a beta of 0.31. BioMarin Pharmaceutical Inc. has a fifty-two week low of $61.40 and a fifty-two week high of $99.56. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 4.27.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). The firm had revenue of $746.00 million during the quarter, compared to analysts’ expectations of $703.37 million. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The company’s revenue for the quarter was up 28.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.26 earnings per share. On average, equities research analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Truist Financial cut their target price on BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Piper Sandler upped their target price on shares of BioMarin Pharmaceutical from $107.00 to $122.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. Wedbush raised shares of BioMarin Pharmaceutical to a “strong-buy” rating in a research note on Monday, November 4th. TD Cowen reduced their price target on shares of BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, Robert W. Baird lowered their price objective on shares of BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $94.20.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 5,278 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total transaction of $350,300.86. Following the sale, the executive vice president now owns 68,909 shares of the company’s stock, valued at approximately $4,573,490.33. This trade 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 can be accessed through this link. 1.85% of the stock is owned by company insiders.

About BioMarin Pharmaceutical

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.