Charles Schwab Investment Management Inc. Has $98.52 Million Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Charles Schwab Investment Management Inc. boosted its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 4.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,401,628 shares of the biotechnology company’s stock after acquiring an additional 55,699 shares during the period. Charles Schwab Investment Management Inc.’s holdings in BioMarin Pharmaceutical were worth $98,520,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Innealta Capital LLC bought a new stake in shares of BioMarin Pharmaceutical during the second quarter worth about $25,000. nVerses Capital LLC bought a new stake in BioMarin Pharmaceutical during the 3rd quarter worth approximately $28,000. BOKF NA bought a new stake in BioMarin Pharmaceutical during the 2nd quarter worth approximately $31,000. Quent Capital LLC raised its stake in shares of BioMarin Pharmaceutical by 58.9% in the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 145 shares during the last quarter. Finally, Itau Unibanco Holding S.A. bought a new position in shares of BioMarin Pharmaceutical in the second quarter valued at approximately $47,000. 98.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Citigroup decreased their price target on BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Sanford C. Bernstein reduced their target price on shares of BioMarin Pharmaceutical from $116.00 to $90.00 and set an “outperform” rating for the company in a research note on Tuesday, September 17th. Wolfe Research assumed coverage on shares of BioMarin Pharmaceutical in a research report on Friday, November 15th. They set an “outperform” rating and a $95.00 price target on the stock. Evercore ISI reduced their price objective on shares of BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Finally, Piper Sandler lifted their target price on shares of BioMarin Pharmaceutical from $107.00 to $122.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Seven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and an average price target of $94.20.

Insiders Place Their Bets

In related news, EVP Charles Greg Guyer sold 5,278 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total transaction of $350,300.86. Following the sale, the executive vice president now owns 68,909 shares of the company’s stock, valued at approximately $4,573,490.33. This represents a 7.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.85% of the stock is owned by corporate insiders.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN stock opened at $64.88 on Wednesday. The firm’s 50 day moving average is $68.04 and its 200 day moving average is $78.19. The stock has a market capitalization of $12.36 billion, a P/E ratio of 38.85, a PEG ratio of 0.63 and a beta of 0.31. BioMarin Pharmaceutical Inc. has a 12 month low of $61.15 and a 12 month high of $99.56. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.23). The company had revenue of $746.00 million for the quarter, compared to analysts’ expectations of $703.37 million. BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The company’s revenue was up 28.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.26 EPS. On average, sell-side analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.49 earnings per share for the current year.

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.