Charles Schwab Investment Management Inc. Acquires 108,806 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Charles Schwab Investment Management Inc. increased its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 7.6% during the first quarter, HoldingsChannel.com reports. The fund owned 1,532,314 shares of the biotechnology company’s stock after buying an additional 108,806 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in BioMarin Pharmaceutical were worth $108,319,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Farther Finance Advisors LLC increased its position in BioMarin Pharmaceutical by 95.9% in the first quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company’s stock worth $29,000 after buying an additional 211 shares during the last quarter. LRI Investments LLC grew its position in BioMarin Pharmaceutical by 856.9% during the fourth quarter. LRI Investments LLC now owns 488 shares of the biotechnology company’s stock worth $32,000 after buying an additional 437 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in BioMarin Pharmaceutical by 71.2% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 524 shares of the biotechnology company’s stock worth $37,000 after buying an additional 218 shares in the last quarter. Vermillion & White Wealth Management Group LLC purchased a new position in BioMarin Pharmaceutical during the fourth quarter worth about $62,000. Finally, Covestor Ltd boosted its holdings in shares of BioMarin Pharmaceutical by 24.1% in the 4th quarter. Covestor Ltd now owns 1,278 shares of the biotechnology company’s stock worth $84,000 after purchasing an additional 248 shares in the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BMRN. Wedbush reiterated an “outperform” rating and issued a $94.00 price objective on shares of BioMarin Pharmaceutical in a report on Tuesday, August 5th. JPMorgan Chase & Co. upped their price target on BioMarin Pharmaceutical from $108.00 to $113.00 and gave the company an “overweight” rating in a research report on Monday, July 14th. Guggenheim upped their target price on BioMarin Pharmaceutical from $101.00 to $106.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. UBS Group upped their target price on BioMarin Pharmaceutical from $113.00 to $114.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. Finally, Citigroup cut their price target on BioMarin Pharmaceutical from $82.00 to $78.00 and set a “neutral” rating on the stock in a research note on Friday, May 2nd. Six investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and a consensus price target of $93.17.

Insider Transactions at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,786 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $59.31, for a total value of $105,927.66. Following the completion of the sale, the chief accounting officer owned 14,173 shares in the company, valued at approximately $840,600.63. This represents a 11.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.85% of the company’s stock.

BioMarin Pharmaceutical Trading Down 0.9%

Shares of BMRN stock opened at $56.80 on Tuesday. BioMarin Pharmaceutical Inc. has a 52-week low of $52.93 and a 52-week high of $94.85. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.60 and a current ratio of 5.56. The firm has a market capitalization of $10.91 billion, a PE ratio of 16.85, a PEG ratio of 0.74 and a beta of 0.18. The stock has a fifty day simple moving average of $57.29 and a two-hundred day simple moving average of $61.70.

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.