Russell Investments Group Ltd. Has $26.65 Million Stock Holdings in BioMarin Pharmaceutical Inc. $BMRN

Key Points

• Russell Investments Group Ltd. reduced its holdings in BioMarin Pharmaceutical by 19.2% in Q1, now owning 376,937 shares valued at $26.6 million after selling 89,783 shares.
• BioMarin Pharmaceutical's stock price decreased by 0.8%, trading at $57.54, with a 52-week range between $52.93 and $94.85.
• Analysts have varying opinions on BioMarin, with target price estimates ranging from $93.17 to $113.00, reflecting a generally favorable outlook on the stock.

Russell Investments Group Ltd. lowered its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 19.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 376,937 shares of the biotechnology company's stock after selling 89,783 shares during the period. Russell Investments Group Ltd. owned approximately 0.20% of BioMarin Pharmaceutical worth $26,649,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Capital Research Global Investors increased its holdings in BioMarin Pharmaceutical by 23.8% during the 4th quarter. Capital Research Global Investors now owns 12,991,772 shares of the biotechnology company's stock worth $853,944,000 after purchasing an additional 2,496,817 shares during the last quarter. Nuveen LLC acquired a new position in BioMarin Pharmaceutical during the 1st quarter valued at approximately $184,475,000. Northern Trust Corp boosted its position in BioMarin Pharmaceutical by 16.2% during the 4th quarter. Northern Trust Corp now owns 1,725,039 shares of the biotechnology company's stock worth $113,387,000 after acquiring an additional 240,681 shares during the period. Charles Schwab Investment Management Inc. boosted its position in BioMarin Pharmaceutical by 7.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,532,314 shares of the biotechnology company's stock worth $108,319,000 after acquiring an additional 108,806 shares during the period. Finally, AQR Capital Management LLC boosted its position in BioMarin Pharmaceutical by 114.5% during the 4th quarter. AQR Capital Management LLC now owns 1,283,599 shares of the biotechnology company's stock worth $84,371,000 after acquiring an additional 685,099 shares during the period. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Price Performance

BMRN stock traded up $0.62 during trading on Wednesday, hitting $57.93. The company had a trading volume of 875,080 shares, compared to its average volume of 1,934,811. The company has a fifty day moving average price of $57.41 and a two-hundred day moving average price of $61.47. 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 company has a market cap of $11.12 billion, a P/E ratio of 17.19, a P/E/G ratio of 0.74 and a beta of 0.18. BioMarin Pharmaceutical Inc. has a fifty-two week low of $52.93 and a fifty-two week high of $94.64.

Analysts Set New Price Targets

BMRN has been the subject of a number of analyst reports. Wolfe Research set a $95.00 price target on BioMarin Pharmaceutical and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Wedbush reaffirmed an "outperform" rating and set a $94.00 target price on shares of BioMarin Pharmaceutical in a research report on Tuesday, August 5th. JPMorgan Chase & Co. boosted their target price on BioMarin Pharmaceutical from $108.00 to $113.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Zacks Research lowered BioMarin Pharmaceutical from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Finally, Wall Street Zen raised BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Eighteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $93.17.

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.