Wesbanco Bank Inc. Acquires 19,000 Shares of BioMarin Pharmaceutical Inc. $BMRN

Key Points

• Wesbanco Bank Inc. increased its holdings in BioMarin Pharmaceutical by 118.8%, acquiring an additional 19,000 shares, bringing its total to 35,000 shares valued at approximately $1.9 million.
• BioMarin Pharmaceutical's stock recently dropped 3.3%, with current trading at $54.09 and a market capitalization of $10.39 billion.
• Wall Street analysts have a generally positive outlook on BioMarin, with 18 analysts rating it as a Buy and an average target price of $92.04.

Wesbanco Bank Inc. boosted its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 118.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,000 shares of the biotechnology company's stock after acquiring an additional 19,000 shares during the quarter. Wesbanco Bank Inc.'s holdings in BioMarin Pharmaceutical were worth $1,924,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Dodge & Cox increased its position in shares of BioMarin Pharmaceutical by 1.4% in the first quarter. Dodge & Cox now owns 14,955,240 shares of the biotechnology company's stock valued at $1,057,186,000 after acquiring an additional 209,005 shares during the last quarter. AQR Capital Management LLC raised its position in shares of BioMarin Pharmaceutical by 127.9% in the first quarter. AQR Capital Management LLC now owns 2,925,805 shares of the biotechnology company's stock valued at $203,987,000 after purchasing an additional 1,642,206 shares during the period. Nuveen LLC acquired a new stake in BioMarin Pharmaceutical during the first quarter worth approximately $184,475,000. Goldman Sachs Group Inc. increased its stake in shares of BioMarin Pharmaceutical by 212.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,592,963 shares of the biotechnology company's stock worth $112,607,000 after purchasing an additional 1,083,512 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of BioMarin Pharmaceutical by 7.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,532,314 shares of the biotechnology company's stock worth $108,319,000 after buying an additional 108,806 shares in the last quarter. 98.71% of the stock is owned by institutional investors.

BioMarin Pharmaceutical Stock Down 3.3%

BioMarin Pharmaceutical stock opened at $54.09 on Monday. The company has a market capitalization of $10.39 billion, a PE ratio of 16.05, a PEG ratio of 0.69 and a beta of 0.35. BioMarin Pharmaceutical Inc. has a 12-month low of $52.93 and a 12-month high of $85.00. The firm's fifty day moving average is $58.02 and its 200 day moving average is $60.38. The company has a quick ratio of 3.60, a current ratio of 5.56 and a debt-to-equity ratio of 0.10.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. UBS Group raised their price objective on BioMarin Pharmaceutical from $113.00 to $114.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Raymond James Financial initiated coverage on shares of BioMarin Pharmaceutical in a report on Wednesday, September 3rd. They set an "outperform" rating and a $85.00 price target for the company. JPMorgan Chase & Co. raised their price objective on shares of BioMarin Pharmaceutical from $108.00 to $113.00 and gave the company an "overweight" rating in a report 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 report on Tuesday, July 15th. Finally, Morgan Stanley cut their price target on shares of BioMarin Pharmaceutical from $97.00 to $96.00 and set an "overweight" rating on the stock in a report on Tuesday, July 22nd. Eighteen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical has an average rating of "Moderate Buy" and an average target price of $92.04.

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.

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