MetLife Investment Management LLC Purchases 9,031 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

MetLife Investment Management LLC grew its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 9.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,403 shares of the biotechnology company's stock after purchasing an additional 9,031 shares during the period. MetLife Investment Management LLC owned approximately 0.06% of BioMarin Pharmaceutical worth $7,060,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in shares of BioMarin Pharmaceutical during the fourth quarter worth about $234,645,000. Capital Research Global Investors increased its holdings in shares of BioMarin Pharmaceutical by 23.8% in the 4th quarter. Capital Research Global Investors now owns 12,991,772 shares of the biotechnology company's stock valued at $853,944,000 after acquiring an additional 2,496,817 shares during the last quarter. Dodge & Cox raised its position in shares of BioMarin Pharmaceutical by 6.1% during the 4th quarter. Dodge & Cox now owns 14,746,235 shares of the biotechnology company's stock valued at $969,270,000 after acquiring an additional 847,917 shares in the last quarter. Marshall Wace LLP acquired a new position in BioMarin Pharmaceutical in the fourth quarter worth $44,735,000. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of BioMarin Pharmaceutical by 461.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company's stock valued at $40,205,000 after buying an additional 502,695 shares during the period. Hedge funds and other institutional investors own 98.71% of the company's stock.

BioMarin Pharmaceutical Stock Performance

BMRN traded down $0.52 on Monday, hitting $62.78. 288,858 shares of the stock traded hands, compared to its average volume of 1,672,547. BioMarin Pharmaceutical Inc. has a 52 week low of $52.93 and a 52 week high of $94.85. The firm has a market capitalization of $11.98 billion, a PE ratio of 28.54, a P/E/G ratio of 0.61 and a beta of 0.30. The business has a fifty day moving average price of $66.40 and a two-hundred day moving average price of $65.97. The company has a current ratio of 5.33, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11.

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

Insider Transactions at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,344 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $68.38, for a total transaction of $91,902.72. Following the sale, the chief accounting officer now directly owns 13,105 shares of the company's stock, valued at approximately $896,119.90. This represents a 9.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.85% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on BMRN shares. Bank of America upped their price objective on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Oppenheimer raised BioMarin Pharmaceutical from a "market perform" rating to an "outperform" rating and set a $98.00 price target on the stock in a report on Monday, February 24th. StockNews.com upgraded shares of BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research note on Friday. UBS Group raised 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. Finally, Citigroup boosted 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 equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, BioMarin Pharmaceutical currently has an average rating of "Moderate Buy" and a consensus target price of $93.14.

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.