AMG National Trust Bank Takes $1.72 Million Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

AMG National Trust Bank purchased a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 24,291 shares of the biotechnology company's stock, valued at approximately $1,717,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BMRN. Proficio Capital Partners LLC acquired a new stake in shares of BioMarin Pharmaceutical during the fourth quarter valued at about $920,000. HighTower Advisors LLC lifted its position in shares of BioMarin Pharmaceutical by 34.9% during the 4th quarter. HighTower Advisors LLC now owns 41,468 shares of the biotechnology company's stock worth $2,726,000 after buying an additional 10,730 shares during the last quarter. Avantax Advisory Services Inc. lifted its position in shares of BioMarin Pharmaceutical by 37.7% during the 4th quarter. Avantax Advisory Services Inc. now owns 5,950 shares of the biotechnology company's stock worth $391,000 after buying an additional 1,630 shares during the last quarter. Natixis Advisors LLC purchased a new stake in shares of BioMarin Pharmaceutical during the 4th quarter worth approximately $1,297,000. Finally, Signaturefd LLC increased its holdings in shares of BioMarin Pharmaceutical by 184.7% in the 4th quarter. Signaturefd LLC now owns 1,839 shares of the biotechnology company's stock valued at $121,000 after acquiring an additional 1,193 shares during the period. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Trading Down 1.3%

Shares of NASDAQ BMRN traded down $0.73 on Monday, reaching $56.56. 1,060,145 shares of the company traded hands, compared to its average volume of 1,753,594. BioMarin Pharmaceutical Inc. has a fifty-two week low of $52.93 and a fifty-two week high of $94.85. The company has a 50 day moving average of $57.21 and a 200 day moving average of $62.32. The company has a current ratio of 5.52, a quick ratio of 3.49 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $10.85 billion, a PE ratio of 21.03, a P/E/G ratio of 0.79 and a beta of 0.17.

Insider Transactions at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,786 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $59.31, for a total transaction of $105,927.66. Following the completion of the sale, the chief accounting officer owned 14,173 shares of the company's stock, valued at approximately $840,600.63. This represents a 11.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.85% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BMRN. Wolfe Research set a $95.00 target price on shares of BioMarin Pharmaceutical and gave the company an "outperform" rating in a report on Tuesday, July 15th. Morgan Stanley assumed coverage on shares of BioMarin Pharmaceutical in a report on Thursday, July 3rd. They issued an "overweight" rating and a $97.00 target price on the stock. The Goldman Sachs Group dropped their price objective on shares of BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Citigroup dropped their price objective on shares of BioMarin Pharmaceutical from $82.00 to $78.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of BioMarin Pharmaceutical from $108.00 to $113.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Six equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $93.78.

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.