BioMarin Pharmaceutical Inc. $BMRN Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC boosted its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 78.9% during the 4th quarter, HoldingsChannel reports. The firm owned 500,996 shares of the biotechnology company’s stock after purchasing an additional 220,995 shares during the period. Hsbc Holdings PLC’s holdings in BioMarin Pharmaceutical were worth $29,789,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Braidwell LP purchased a new stake in BioMarin Pharmaceutical during the 3rd quarter valued at approximately $28,596,000. Assenagon Asset Management S.A. grew its stake in shares of BioMarin Pharmaceutical by 312.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,419,067 shares of the biotechnology company’s stock valued at $84,335,000 after purchasing an additional 1,074,929 shares during the last quarter. Perpetual Ltd increased its holdings in shares of BioMarin Pharmaceutical by 425.7% in the fourth quarter. Perpetual Ltd now owns 25,621 shares of the biotechnology company’s stock valued at $1,523,000 after purchasing an additional 20,747 shares during the period. Korea Investment CORP raised its stake in shares of BioMarin Pharmaceutical by 115.2% during the third quarter. Korea Investment CORP now owns 519,903 shares of the biotechnology company’s stock worth $28,158,000 after purchasing an additional 278,300 shares during the last quarter. Finally, Paragon Capital Management Inc. acquired a new stake in shares of BioMarin Pharmaceutical during the fourth quarter worth $1,191,000. 98.71% of the stock is owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Stock Performance

NASDAQ:BMRN opened at $58.31 on Tuesday. The company has a current ratio of 5.81, a quick ratio of 4.20 and a debt-to-equity ratio of 0.23. The firm has a 50-day moving average price of $54.90 and a two-hundred day moving average price of $56.76. BioMarin Pharmaceutical Inc. has a twelve month low of $49.26 and a twelve month high of $66.28. The company has a market capitalization of $11.27 billion, a P/E ratio of 42.56, a price-to-earnings-growth ratio of 0.45 and a beta of 0.24.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on BMRN shares. Royal Bank Of Canada reissued a “sector perform” rating and set a $66.00 price target on shares of BioMarin Pharmaceutical in a report on Tuesday, May 5th. The Goldman Sachs Group began coverage on BioMarin Pharmaceutical in a research note on Monday, May 11th. They issued a “neutral” rating and a $69.00 price target on the stock. Wolfe Research reissued an “outperform” rating on shares of BioMarin Pharmaceutical in a report on Monday, March 16th. Canaccord Genuity Group decreased their target price on shares of BioMarin Pharmaceutical from $116.00 to $111.00 and set a “buy” rating on the stock in a research report on Friday, May 22nd. Finally, Morgan Stanley lowered their price target on shares of BioMarin Pharmaceutical from $120.00 to $119.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and a consensus target price of $88.67.

Insider Buying and Selling

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

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.