BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 4.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,401,628 shares of the biotechnology company's stock after purchasing an additional 55,699 shares during the period. Charles Schwab Investment Management Inc. owned about 0.74% of BioMarin Pharmaceutical worth $98,520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Quent Capital LLC raised its position 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 acquiring an additional 145 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its position in shares of BioMarin Pharmaceutical by 0.8% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 21,105 shares of the biotechnology company's stock worth $1,483,000 after acquiring an additional 173 shares during the period. Advisors Asset Management Inc. raised its position in shares of BioMarin Pharmaceutical by 1.6% in the third quarter. Advisors Asset Management Inc. now owns 11,451 shares of the biotechnology company's stock worth $805,000 after acquiring an additional 180 shares during the period. Voisard Asset Management Group Inc. increased its stake in shares of BioMarin Pharmaceutical by 17.8% during the third quarter. Voisard Asset Management Group Inc. now owns 1,355 shares of the biotechnology company's stock worth $95,000 after purchasing an additional 205 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of BioMarin Pharmaceutical by 56.1% during the third quarter. GAMMA Investing LLC now owns 782 shares of the biotechnology company's stock worth $55,000 after purchasing an additional 281 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Charles Greg Guyer sold 5,278 shares of the firm's stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total value of $350,300.86. Following the sale, the executive vice president now directly owns 68,909 shares in the company, valued at approximately $4,573,490.33. This trade represents a 7.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.85% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on BMRN shares. Evercore ISI cut their target price on shares of BioMarin Pharmaceutical from $115.00 to $105.00 and set an "outperform" rating for the company in a research note on Wednesday, October 30th. Raymond James reissued an "outperform" rating and set a $79.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, October 10th. Sanford C. Bernstein cut 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. Piper Sandler boosted their target price on shares of BioMarin Pharmaceutical from $107.00 to $122.00 and gave the stock an "overweight" rating in a research note on Thursday, September 5th. Finally, Stifel Nicolaus dropped their price objective on shares of BioMarin Pharmaceutical from $115.00 to $87.00 and set a "buy" rating for the company in a research note on Tuesday, September 17th. Seven equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $94.20.

BioMarin Pharmaceutical Trading Up 0.8 %

Shares of BMRN stock traded up $0.54 during trading hours on Wednesday, hitting $65.42. The company had a trading volume of 950,525 shares, compared to its average volume of 1,818,953. The company's fifty day moving average is $67.93 and its 200 day moving average is $78.10. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 2.62. BioMarin Pharmaceutical Inc. has a fifty-two week low of $61.15 and a fifty-two week high of $99.56. The stock has a market capitalization of $12.47 billion, a PE ratio of 39.17, a price-to-earnings-growth ratio of 0.64 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last released its earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.78 by ($0.23). The business had revenue of $746.00 million for the quarter, compared to analyst estimates of $703.37 million. BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. BioMarin Pharmaceutical's quarterly revenue was up 28.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.26 earnings per share. Research analysts expect that BioMarin Pharmaceutical Inc. will post 2.49 earnings per share for the current fiscal year.

About BioMarin Pharmaceutical

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.