Hsbc Holdings PLC Buys 220,995 Shares of BioMarin Pharmaceutical Inc. $BMRN

Hsbc Holdings PLC grew its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 78.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 500,996 shares of the biotechnology company’s stock after acquiring an additional 220,995 shares during the quarter. Hsbc Holdings PLC owned about 0.26% of BioMarin Pharmaceutical worth $29,789,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Wick Capital Partners LLC bought a new stake in BioMarin Pharmaceutical during the fourth quarter valued at about $256,000. River Road Asset Management LLC bought a new position in BioMarin Pharmaceutical in the fourth quarter worth about $53,865,000. Pacer Advisors Inc. raised its holdings in BioMarin Pharmaceutical by 53.6% in the fourth quarter. Pacer Advisors Inc. now owns 937,356 shares of the biotechnology company’s stock worth $55,707,000 after purchasing an additional 327,204 shares in the last quarter. Corient Private Wealth LLC lifted its position in shares of BioMarin Pharmaceutical by 159.5% during the fourth quarter. Corient Private Wealth LLC now owns 15,145 shares of the biotechnology company’s stock valued at $900,000 after buying an additional 9,309 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its position in shares of BioMarin Pharmaceutical by 1.4% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 64,069 shares of the biotechnology company’s stock valued at $3,808,000 after buying an additional 910 shares during the last quarter. 98.71% of the stock is owned by institutional investors.

BioMarin Pharmaceutical Trading Up 1.4%

NASDAQ BMRN opened at $57.27 on Thursday. BioMarin Pharmaceutical Inc. has a 12-month low of $49.26 and a 12-month high of $66.28. The company has a fifty day simple moving average of $54.32 and a two-hundred day simple moving average of $56.47. 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 stock has a market cap of $11.07 billion, a P/E ratio of 41.80, a P/E/G ratio of 0.43 and a beta of 0.25.

Wall Street Analysts Forecast Growth

BMRN has been the topic of a number of analyst reports. The Goldman Sachs Group began coverage on shares of BioMarin Pharmaceutical in a research report on Monday, May 11th. They issued a “neutral” rating and a $69.00 price objective on the stock. Truist Financial raised shares of BioMarin Pharmaceutical to a “strong-buy” rating in a research report on Wednesday, March 25th. Guggenheim cut their price target on shares of BioMarin Pharmaceutical from $106.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. HC Wainwright reaffirmed a “neutral” rating on shares of BioMarin Pharmaceutical in a research report on Monday. Finally, Sanford C. Bernstein decreased their price objective on BioMarin Pharmaceutical from $94.00 to $82.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and a consensus target price of $88.67.

Insider Activity

In related 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 value of $176,681.85. Following the completion of the transaction, the executive vice president owned 51,818 shares in the company, valued at $2,790,399.30. This trade represents a 5.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.85% of the stock is currently owned by insiders.

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.