Hsbc Holdings PLC Raises Stake in BioMarin Pharmaceutical Inc. $BMRN

Hsbc Holdings PLC boosted its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 78.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 500,996 shares of the biotechnology company’s stock after buying an additional 220,995 shares during the quarter. Hsbc Holdings PLC’s holdings in BioMarin Pharmaceutical were worth $29,789,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of BMRN. Norges Bank acquired a new stake in shares of BioMarin Pharmaceutical in the fourth quarter worth $447,572,000. Vestal Point Capital LP lifted its position in BioMarin Pharmaceutical by 261.4% during the fourth quarter. Vestal Point Capital LP now owns 3,000,000 shares of the biotechnology company’s stock valued at $178,290,000 after purchasing an additional 2,170,000 shares during the period. Capital Research Global Investors lifted its position in BioMarin Pharmaceutical by 547.5% during the third quarter. Capital Research Global Investors now owns 2,537,596 shares of the biotechnology company’s stock valued at $137,436,000 after purchasing an additional 2,145,717 shares during the period. Viking Global Investors LP lifted its position in BioMarin Pharmaceutical by 13.8% during the second quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company’s stock valued at $675,505,000 after purchasing an additional 1,488,552 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in BioMarin Pharmaceutical by 48.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,321,754 shares of the biotechnology company’s stock valued at $197,405,000 after purchasing an additional 1,076,568 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BMRN shares. Weiss Ratings lowered BioMarin Pharmaceutical from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, June 11th. Royal Bank Of Canada restated a “sector perform” rating and issued a $66.00 target price on shares of BioMarin Pharmaceutical in a research note on Tuesday, May 5th. Wolfe Research reaffirmed an “outperform” rating on shares of BioMarin Pharmaceutical in a report on Monday, March 16th. Citigroup began coverage on BioMarin Pharmaceutical in a report on Tuesday, May 19th. They set a “buy” rating and a $75.00 target price on the stock. Finally, Morgan Stanley reduced their price target on BioMarin Pharmaceutical from $120.00 to $119.00 and set an “overweight” rating for the company in a research report on Tuesday, May 5th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $88.67.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, EVP Gregory R. Friberg sold 3,281 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $53.85, for a total transaction of $176,681.85. Following the sale, the executive vice president directly owned 51,818 shares of the company’s stock, valued at $2,790,399.30. This represents a 5.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.85% of the company’s stock.

BioMarin Pharmaceutical Stock Up 1.4%

BMRN stock opened at $57.27 on Thursday. The firm has a market cap of $11.07 billion, a PE ratio of 41.80, a P/E/G ratio of 0.43 and a beta of 0.25. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.20 and a current ratio of 5.81. The firm’s fifty day moving average is $54.32 and its 200 day moving average is $56.47. BioMarin Pharmaceutical Inc. has a one year low of $49.26 and a one year high of $66.28.

BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical Inc is a biopharmaceutical company specializing in the development and commercialization of therapies for rare genetic and metabolic diseases. The company focuses on addressing unmet medical needs by leveraging enzyme replacement therapy, small molecule pharmacological chaperones and gene therapy technologies. Headquartered in Novato, California, BioMarin operates research and development facilities in the United States and Europe.

The company’s commercial portfolio includes several approved therapies targeting inherited disorders.