Fifth Third Bancorp Has $168,000 Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Fifth Third Bancorp boosted its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 76.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,381 shares of the biotechnology company’s stock after buying an additional 1,030 shares during the quarter. Fifth Third Bancorp’s holdings in BioMarin Pharmaceutical were worth $168,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Farther Finance Advisors LLC boosted its stake in BioMarin Pharmaceutical by 95.9% in the 1st quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company’s stock valued at $29,000 after buying an additional 211 shares in the last quarter. LRI Investments LLC boosted its stake in BioMarin Pharmaceutical by 856.9% in the 4th quarter. LRI Investments LLC now owns 488 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 437 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in BioMarin Pharmaceutical in the 4th quarter valued at $36,000. MassMutual Private Wealth & Trust FSB boosted its stake in 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 buying an additional 218 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its stake in BioMarin Pharmaceutical by 64.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company’s stock valued at $41,000 after buying an additional 233 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

Insider Activity at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,786 shares of the company’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $59.31, for a total value of $105,927.66. Following the completion of the sale, the chief accounting officer now owns 14,173 shares in the company, valued at approximately $840,600.63. This represents a 11.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.85% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BMRN has been the topic of a number of recent analyst reports. Royal Bank Of Canada reissued a “sector perform” rating and issued a $70.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Wedbush reissued an “outperform” rating and issued a $94.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Wall Street Zen raised BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 25th. The Goldman Sachs Group reduced their price objective on BioMarin Pharmaceutical from $124.00 to $104.00 and set a “buy” rating on the stock in a research note on Monday, May 5th. Finally, Piper Sandler boosted their price objective on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $93.45.

BioMarin Pharmaceutical Trading Up 0.4%

NASDAQ BMRN opened at $55.24 on Friday. The stock has a 50-day simple moving average of $58.92 and a 200 day simple moving average of $63.72. The company has a market capitalization of $10.59 billion, a PE ratio of 20.54, a P/E/G ratio of 0.76 and a beta of 0.19. The company has a current ratio of 5.52, a quick ratio of 3.49 and a debt-to-equity ratio of 0.10. BioMarin Pharmaceutical Inc. has a 12 month low of $52.93 and a 12 month high of $94.85.

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.