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

AMG National Trust Bank purchased a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 24,291 shares of the biotechnology company's stock, valued at approximately $1,717,000.

A number of other hedge funds have also made changes to their positions in the stock. Proficio Capital Partners LLC bought a new position in BioMarin Pharmaceutical during the fourth quarter worth about $920,000. HighTower Advisors LLC increased its holdings in shares of BioMarin Pharmaceutical by 34.9% during the fourth 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 in the last quarter. Avantax Advisory Services Inc. increased its holdings in shares of BioMarin Pharmaceutical by 37.7% in the fourth quarter. Avantax Advisory Services Inc. now owns 5,950 shares of the biotechnology company's stock valued at $391,000 after purchasing an additional 1,630 shares in the last quarter. Natixis Advisors LLC bought a new stake in shares of BioMarin Pharmaceutical during the fourth quarter worth $1,297,000. Finally, Signaturefd LLC boosted its stake in BioMarin Pharmaceutical by 184.7% in the fourth 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 last quarter. Institutional investors and hedge funds own 98.71% of the company's stock.

Insider Transactions at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,786 shares of the business's 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 transaction, the chief accounting officer owned 14,173 shares in the company, valued at $840,600.63. The trade was a 11.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.85% of the stock is currently owned by company insiders.

BioMarin Pharmaceutical Trading Up 1.2%

BioMarin Pharmaceutical stock traded up $0.73 during mid-day trading on Wednesday, hitting $59.93. The company's stock had a trading volume of 356,433 shares, compared to its average volume of 1,749,344. The stock has a market cap of $11.49 billion, a PE ratio of 22.27, a P/E/G ratio of 0.78 and a beta of 0.17. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.49 and a current ratio of 5.52. BioMarin Pharmaceutical Inc. has a one year low of $52.93 and a one year high of $94.85. The company has a 50 day moving average of $57.21 and a 200-day moving average of $62.32.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Citigroup reduced their price target on shares of BioMarin Pharmaceutical from $82.00 to $78.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Wall Street Zen cut shares of BioMarin Pharmaceutical from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. JPMorgan Chase & Co. lifted their price target 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. Wolfe Research set a $95.00 price target on shares of BioMarin Pharmaceutical and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Finally, Morgan Stanley lowered their price target on shares of BioMarin Pharmaceutical from $97.00 to $96.00 and set an "overweight" rating on the stock in a research note on Tuesday. Six investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $93.74.

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.