307,543 Shares in BioMarin Pharmaceutical Inc. $BMRN Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC acquired a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 307,543 shares of the biotechnology company’s stock, valued at approximately $17,640,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Activest Wealth Management acquired a new position in shares of BioMarin Pharmaceutical during the 4th quarter valued at about $26,000. CIBC Private Wealth Group LLC increased its position in BioMarin Pharmaceutical by 38.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock worth $39,000 after purchasing an additional 179 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in BioMarin Pharmaceutical during the second quarter worth about $39,000. Caitong International Asset Management Co. Ltd acquired a new position in BioMarin Pharmaceutical in the 3rd quarter valued at about $40,000. Finally, Parallel Advisors LLC boosted its holdings in BioMarin Pharmaceutical by 62.2% in the 3rd quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 295 shares during the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on BMRN shares. Oppenheimer raised their price target on shares of BioMarin Pharmaceutical from $95.00 to $97.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. HC Wainwright lowered their price objective on BioMarin Pharmaceutical from $60.00 to $59.00 and set a “neutral” rating for the company in a research report on Tuesday, August 18th. The Goldman Sachs Group assumed coverage on BioMarin Pharmaceutical in a research note on Monday, May 11th. They set a “neutral” rating and a $69.00 target price for the company. Morgan Stanley lifted their target price on BioMarin Pharmaceutical from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Finally, Canaccord Genuity Group upped their price target on BioMarin Pharmaceutical from $111.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and an average price target of $88.79.

BioMarin Pharmaceutical Trading Down 0.5%

Shares of BMRN stock opened at $65.29 on Friday. BioMarin Pharmaceutical Inc. has a fifty-two week low of $49.26 and a fifty-two week high of $70.98. The company has a 50 day moving average price of $61.50 and a 200 day moving average price of $58.10. The stock has a market capitalization of $12.64 billion, a P/E ratio of 176.46, a price-to-earnings-growth ratio of 0.47 and a beta of 0.24. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.32 and a current ratio of 2.39.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Thursday, August 6th. The biotechnology company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.25. BioMarin Pharmaceutical had a net margin of 2.14% and a return on equity of 5.32%. The company had revenue of $989.71 million for the quarter, compared to analyst estimates of $932.03 million. During the same period in the prior year, the business earned $1.44 EPS. The firm’s quarterly revenue was up 20.0% on a year-over-year basis. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. Equities research analysts predict that BioMarin Pharmaceutical Inc. will post 4.1 EPS for the current fiscal year.

About BioMarin Pharmaceutical

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.