UMB Bank n.a. Boosts Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

UMB Bank n.a. grew its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 120.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,247 shares of the biotechnology company’s stock after purchasing an additional 1,228 shares during the period. UMB Bank n.a.’s holdings in BioMarin Pharmaceutical were worth $159,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. LRI Investments LLC boosted its position in BioMarin Pharmaceutical by 856.9% during the 4th quarter. LRI Investments LLC now owns 488 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 437 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of BioMarin Pharmaceutical in the 4th quarter valued at approximately $36,000. MassMutual Private Wealth & Trust FSB lifted its stake in shares of BioMarin Pharmaceutical by 71.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 524 shares of the biotechnology company’s stock valued at $37,000 after purchasing an additional 218 shares during the period. CIBC Private Wealth Group LLC boosted its position in shares of BioMarin Pharmaceutical by 64.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company’s stock valued at $41,000 after purchasing an additional 233 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in BioMarin Pharmaceutical by 111.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 885 shares of the biotechnology company’s stock worth $58,000 after purchasing an additional 466 shares during the period. Hedge funds and other institutional investors own 98.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BMRN. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. UBS Group lifted their price target on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Wedbush reissued an “outperform” rating and set a $94.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Cantor Fitzgerald restated an “overweight” rating and issued a $90.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Finally, The Goldman Sachs Group lowered their target price on shares of BioMarin Pharmaceutical from $124.00 to $104.00 and set a “buy” rating for the company in a report on Monday, May 5th. Six research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and a consensus price target of $93.45.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ BMRN opened at $57.16 on Thursday. The firm’s 50-day moving average price is $59.14 and its 200-day moving average price is $64.11. BioMarin Pharmaceutical Inc. has a 52-week low of $52.93 and a 52-week high of $94.85. The company has a market cap of $10.96 billion, a PE ratio of 25.98, a PEG ratio of 0.61 and a beta of 0.19. The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11.

Insider Activity

In other news, CAO Erin Burkhart sold 1,786 shares of the firm’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $59.31, for a total value of $105,927.66. Following the transaction, the chief accounting officer now directly owns 14,173 shares in the company, valued at $840,600.63. This trade represents a 11.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders sold 3,354 shares of company stock valued at $216,269 over the last three months. Insiders own 0.85% of the company’s stock.

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.