BioMarin Pharmaceutical Inc. $BMRN Stock Holdings Decreased by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its stake in BioMarin Pharmaceutical by 1.6%, now holding approximately 1,696,864 shares valued at about $119.95 million.
• Several institutional investors, including Nuveen LLC and Charles Schwab Investment Management Inc., also adjusted their positions in BioMarin, with 98.71% of the stock currently owned by hedge funds and other institutions.
• The stock has a consensus rating of "Moderate Buy" with an average price target of $93.17 based on recent ratings from various analysts.

Northern Trust Corp trimmed its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 1.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,696,864 shares of the biotechnology company's stock after selling 28,175 shares during the period. Northern Trust Corp owned about 0.88% of BioMarin Pharmaceutical worth $119,951,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Farther Finance Advisors LLC boosted its position in BioMarin Pharmaceutical by 95.9% during the first quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company's stock worth $29,000 after acquiring an additional 211 shares during the last quarter. LRI Investments LLC boosted its position in BioMarin Pharmaceutical by 856.9% during the fourth quarter. LRI Investments LLC now owns 488 shares of the biotechnology company's stock worth $32,000 after acquiring an additional 437 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in BioMarin Pharmaceutical by 71.2% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 524 shares of the biotechnology company's stock worth $37,000 after acquiring an additional 218 shares during the last quarter. Brooklyn Investment Group boosted its position in BioMarin Pharmaceutical by 2,250.0% during the first quarter. Brooklyn Investment Group now owns 564 shares of the biotechnology company's stock worth $40,000 after acquiring an additional 540 shares during the last quarter. Finally, Vermillion & White Wealth Management Group LLC acquired a new stake in BioMarin Pharmaceutical during the fourth quarter worth approximately $62,000. 98.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BMRN has been the topic of a number of research analyst reports. Wedbush reiterated an "outperform" rating and issued a $94.00 price target on shares of BioMarin Pharmaceutical in a report on Tuesday, August 5th. 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 report on Monday, July 14th. Citigroup decreased their price target on shares of BioMarin Pharmaceutical from $82.00 to $78.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Wall Street Zen upgraded shares of BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 9th. Finally, Guggenheim lifted their price target on shares of BioMarin Pharmaceutical from $101.00 to $106.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Eighteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $93.17.

BioMarin Pharmaceutical Stock Down 2.0%

BioMarin Pharmaceutical stock traded down $1.17 during midday trading on Thursday, hitting $57.49. 682,866 shares of the stock were exchanged, compared to its average volume of 1,926,609. The company has a 50 day moving average price of $57.65 and a two-hundred day moving average price of $61.27. The firm has a market cap of $11.04 billion, a P/E ratio of 17.05, a P/E/G ratio of 0.74 and a beta of 0.18. BioMarin Pharmaceutical Inc. has a 1 year low of $52.93 and a 1 year high of $93.04. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.56 and a quick ratio of 3.60.

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.