Charles Schwab Investment Management Inc. Grows Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Charles Schwab Investment Management Inc. boosted its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1.6% during the 4th quarter, Holdings Channel reports. The firm owned 1,423,508 shares of the biotechnology company’s stock after acquiring an additional 21,880 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in BioMarin Pharmaceutical were worth $93,567,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. TD Private Client Wealth LLC grew its position in BioMarin Pharmaceutical by 57.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 186 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in BioMarin Pharmaceutical during the 4th quarter valued at approximately $36,000. Meeder Asset Management Inc. lifted its stake in BioMarin Pharmaceutical by 920.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock valued at $52,000 after acquiring an additional 663 shares during the period. True Wealth Design LLC lifted its stake in BioMarin Pharmaceutical by 13,400.0% during the 3rd quarter. True Wealth Design LLC now owns 810 shares of the biotechnology company’s stock valued at $57,000 after acquiring an additional 804 shares during the period. Finally, Smartleaf Asset Management LLC lifted its stake in BioMarin Pharmaceutical by 111.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 885 shares of the biotechnology company’s stock valued at $58,000 after acquiring an additional 466 shares during the period. Hedge funds and other institutional investors own 98.71% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on BMRN. Wolfe Research assumed coverage on shares of BioMarin Pharmaceutical in a research note on Friday, November 15th. They set an “outperform” rating and a $95.00 price objective for the company. Piper Sandler upped their target price on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Scotiabank upped their target price on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a “sector perform” rating in a report on Thursday, February 20th. Wedbush reissued an “outperform” rating and issued a $94.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Finally, Bank of America upped their price objective on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $94.00.

Insider Activity at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,344 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $68.38, for a total value of $91,902.72. Following the sale, the chief accounting officer now owns 13,105 shares of the company’s stock, valued at $896,119.90. This trade represents a 9.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.85% of the stock is owned by corporate insiders.

BioMarin Pharmaceutical Stock Up 1.4 %

Shares of BMRN opened at $72.23 on Monday. The stock has a market capitalization of $13.78 billion, a PE ratio of 32.83, a P/E/G ratio of 0.61 and a beta of 0.33. BioMarin Pharmaceutical Inc. has a 1 year low of $60.63 and a 1 year high of $94.85. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 5.33. The company’s 50-day simple moving average is $65.76 and its 200-day simple moving average is $69.34.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.18. The business had revenue of $747.31 million for the quarter, compared to analysts’ expectations of $711.05 million. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. Analysts forecast that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current fiscal year.

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.