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

Charles Schwab Investment Management Inc. boosted its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 4.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,401,628 shares of the biotechnology company’s stock after purchasing an additional 55,699 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.74% of BioMarin Pharmaceutical worth $98,520,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of BMRN. Primecap Management Co. CA raised its position in shares of BioMarin Pharmaceutical by 0.4% in the 3rd quarter. Primecap Management Co. CA now owns 18,867,435 shares of the biotechnology company’s stock valued at $1,326,192,000 after buying an additional 77,350 shares in the last quarter. Avoro Capital Advisors LLC raised its position in BioMarin Pharmaceutical by 4.4% during the second quarter. Avoro Capital Advisors LLC now owns 4,557,416 shares of the biotechnology company’s stock valued at $375,212,000 after purchasing an additional 192,416 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in BioMarin Pharmaceutical by 38.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,034,457 shares of the biotechnology company’s stock worth $85,178,000 after purchasing an additional 289,953 shares during the last quarter. DNB Asset Management AS boosted its holdings in shares of BioMarin Pharmaceutical by 17.7% in the 2nd quarter. DNB Asset Management AS now owns 1,021,054 shares of the biotechnology company’s stock valued at $84,063,000 after purchasing an additional 153,867 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of BioMarin Pharmaceutical by 1,858.6% in the 2nd quarter. Principal Financial Group Inc. now owns 649,460 shares of the biotechnology company’s stock valued at $53,470,000 after purchasing an additional 616,301 shares during the last quarter. Institutional investors own 98.71% of the company’s stock.

Insider Transactions at BioMarin Pharmaceutical

In other news, EVP Charles Greg Guyer sold 5,278 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total transaction of $350,300.86. Following the transaction, the executive vice president now owns 68,909 shares of the company’s stock, valued at $4,573,490.33. This represents a 7.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.85% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

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

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Stifel Nicolaus dropped their price objective on BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Canaccord Genuity Group reduced their price target on shares of BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a research note on Wednesday, October 30th. 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 objective for the company. Cantor Fitzgerald cut their target price on shares of BioMarin Pharmaceutical from $110.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Finally, William Blair downgraded shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and an average price target of $94.20.

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.