Hsbc Holdings PLC Cuts Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Hsbc Holdings PLC cut its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 195,530 shares of the biotechnology company's stock after selling 4,865 shares during the period. Hsbc Holdings PLC owned about 0.10% of BioMarin Pharmaceutical worth $12,849,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in BioMarin Pharmaceutical during the 4th quarter valued at approximately $36,000. CIBC Private Wealth Group LLC boosted its position in shares of BioMarin Pharmaceutical by 64.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company's stock worth $41,000 after acquiring an additional 233 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in BioMarin Pharmaceutical by 111.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 885 shares of the biotechnology company's stock valued at $58,000 after acquiring an additional 466 shares in the last quarter. UMB Bank n.a. increased its holdings in BioMarin Pharmaceutical by 260.1% in the 4th quarter. UMB Bank n.a. now owns 1,019 shares of the biotechnology company's stock valued at $67,000 after acquiring an additional 736 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in BioMarin Pharmaceutical by 27.5% in the 4th quarter. Blue Trust Inc. now owns 1,095 shares of the biotechnology company's stock worth $77,000 after purchasing an additional 236 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors.

Insider Activity at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,295 shares of the company's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total value of $92,618.40. Following the completion of the sale, the chief accounting officer now directly owns 16,955 shares of the company's stock, valued at $1,212,621.60. This represents a 7.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.85% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on BMRN shares. Wedbush restated an "outperform" rating and set a $94.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Citigroup reduced their price objective on BioMarin Pharmaceutical from $82.00 to $78.00 and set a "neutral" rating on the stock in a research note on Friday. StockNews.com upgraded BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research report on Friday, April 25th. Piper Sandler boosted their price target on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Finally, Oppenheimer upgraded shares of BioMarin Pharmaceutical from a "market perform" rating to an "outperform" rating and set a $98.00 price objective for the company in a research report on Monday, February 24th. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $92.95.

BioMarin Pharmaceutical Trading Down 1.1 %

BMRN stock traded down $0.68 during midday trading on Friday, reaching $62.03. The company's stock had a trading volume of 2,235,132 shares, compared to its average volume of 1,862,604. The firm has a market capitalization of $11.84 billion, a price-to-earnings ratio of 28.20, a PEG ratio of 0.61 and a beta of 0.30. BioMarin Pharmaceutical Inc. has a 1 year low of $52.93 and a 1 year high of $94.85. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 5.33. The stock has a fifty day simple moving average of $65.84 and a two-hundred day simple moving average of $65.77.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.54 by $0.18. The company had revenue of $747.31 million during the quarter, compared to analyst estimates of $711.05 million. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. On average, equities research analysts predict that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current year.

About BioMarin Pharmaceutical

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.