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

Key Points

• Hsbc Holdings PLC more than doubled its BioMarin stake in the second quarter, adding 159,361 shares to own 307,543 shares valued at approximately $17.6 million. Institutional investors collectively hold 98.71% of BMRN.
• Analyst sentiment remains positive, with two Strong Buy and fourteen Buy ratings. BioMarin has a “Moderate Buy” consensus rating and an average price target of $89.17.
• BioMarin reported quarterly earnings of $1.20 per share, beating estimates by $0.25, while revenue rose 20% year over year to $989.71 million. Shares opened at $64.63 after recently trading down 2.9%.

Hsbc Holdings PLC lifted its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 107.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 307,543 shares of the biotechnology company's stock after buying an additional 159,361 shares during the quarter. Hsbc Holdings PLC owned 0.16% of BioMarin Pharmaceutical worth $17,640,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Primecap Management Co. CA acquired a new stake in BioMarin Pharmaceutical in the second quarter valued at $811,962,000. Viking Global Investors LP increased its holdings in shares of BioMarin Pharmaceutical by 13.8% in the 2nd 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 in the last quarter. Norges Bank purchased a new position in shares of BioMarin Pharmaceutical in the 4th quarter valued at about $447,572,000. AQR Capital Management LLC lifted its stake in shares of BioMarin Pharmaceutical by 12.7% in the fourth quarter. AQR Capital Management LLC now owns 6,686,916 shares of the biotechnology company's stock valued at $395,197,000 after purchasing an additional 754,807 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in BioMarin Pharmaceutical by 14.5% during the first quarter. Dimensional Fund Advisors LP now owns 3,802,930 shares of the biotechnology company's stock worth $214,804,000 after buying an additional 481,176 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on BMRN shares. Morgan Stanley upped their target price on shares of BioMarin Pharmaceutical from $119.00 to $124.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. Canaccord Genuity Group raised their price objective on BioMarin Pharmaceutical from $111.00 to $114.00 and gave the company a "buy" rating in a research note on Monday, August 10th. Weiss Ratings raised BioMarin Pharmaceutical from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, September 3rd. Royal Bank Of Canada lowered their target price on BioMarin Pharmaceutical from $66.00 to $62.00 and set a "sector perform" rating on the stock in a report on Tuesday, July 7th. Finally, Piper Sandler raised their price target on BioMarin Pharmaceutical from $88.00 to $90.00 and gave the company an "overweight" rating in a research report on Tuesday, September 1st. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, BioMarin Pharmaceutical presently has an average rating of "Moderate Buy" and a consensus price target of $89.17.

BioMarin Pharmaceutical Trading Down 2.9%

Shares of BioMarin Pharmaceutical stock opened at $64.63 on Wednesday. BioMarin Pharmaceutical Inc. has a 1 year low of $49.26 and a 1 year high of $70.98. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.39 and a quick ratio of 1.32. The business has a 50 day moving average price of $62.90 and a 200 day moving average price of $58.43. The company has a market capitalization of $12.51 billion, a P/E ratio of 174.68, a P/E/G ratio of 0.48 and a beta of 0.24.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last announced its earnings results on Thursday, August 6th. The biotechnology company reported $1.20 EPS for the quarter, beating analysts' consensus estimates of $0.95 by $0.25. BioMarin Pharmaceutical had a return on equity of 5.32% and a net margin of 2.14%.The firm had revenue of $989.71 million for the quarter, compared to analysts' expectations of $932.03 million. During the same quarter in the prior year, the firm earned $1.44 EPS. BioMarin Pharmaceutical'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. Sell-side analysts anticipate that BioMarin Pharmaceutical Inc. will post 4.1 EPS for the current fiscal year.

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.

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