BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 5.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,816 shares of the biotechnology company’s stock after acquiring an additional 650 shares during the quarter. PNC Financial Services Group Inc.’s holdings in BioMarin Pharmaceutical were worth $906,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC grew its position in BioMarin Pharmaceutical by 95.9% during the 1st quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 211 shares during the last quarter. LRI Investments LLC grew 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 worth $32,000 after purchasing an additional 437 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in BioMarin Pharmaceutical by 71.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 524 shares of the biotechnology company’s stock worth $37,000 after purchasing an additional 218 shares during the last quarter. Vermillion & White Wealth Management Group LLC purchased a new position in BioMarin Pharmaceutical during the 4th quarter worth $62,000. Finally, Covestor Ltd grew its position in BioMarin Pharmaceutical by 24.1% during the 4th quarter. Covestor Ltd now owns 1,278 shares of the biotechnology company’s stock worth $84,000 after purchasing an additional 248 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN opened at $56.80 on Tuesday. The company has a current ratio of 5.56, a quick ratio of 3.60 and a debt-to-equity ratio of 0.10. The stock has a market cap of $10.91 billion, a P/E ratio of 16.85, a PEG ratio of 0.74 and a beta of 0.18. The company has a 50-day moving average of $57.29 and a two-hundred day moving average of $61.70. BioMarin Pharmaceutical Inc. has a 12-month low of $52.93 and a 12-month high of $94.85.

Wall Street Analyst Weigh In

BMRN has been the topic of several research reports. Guggenheim raised their price objective on shares of BioMarin Pharmaceutical from $101.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. The Goldman Sachs Group lowered 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 report on Monday, May 5th. UBS Group raised their price objective on shares of BioMarin Pharmaceutical from $113.00 to $114.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Citigroup lowered 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 report on Friday, May 2nd. Finally, Wolfe Research set a $95.00 price objective on shares of BioMarin Pharmaceutical and gave the stock an “outperform” rating in a research report on Tuesday, July 15th. Six analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, BioMarin Pharmaceutical has a consensus rating of “Moderate Buy” and a consensus target price of $93.17.

Insider Buying and Selling at BioMarin Pharmaceutical

In other 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 value of $105,927.66. Following the completion of the transaction, the chief accounting officer owned 14,173 shares of the company’s stock, valued at $840,600.63. The trade was a 11.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.85% of the stock is currently owned by corporate insiders.

About BioMarin Pharmaceutical

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.