Hsbc Holdings PLC Boosts Holdings in BioMarin Pharmaceutical Inc. $BMRN
HSBC Holdings PLC increased its stake in BioMarin Pharmaceutical Inc. by 14.4% in Q2, owning 373,117 shares worth $20.46 million. Other institutional investors also boosted their holdings. Analysts have mixed ratings, with a consensus target price of $89.91. BioMarin's stock opened at $53.89, with a market cap of $10.35 billion. The company reported Q3 earnings of $0.12 per share, missing estimates, but revenue rose 4.1% year-over-year.
Hsbc Holdings PLC boosted its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 14.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 373,117 shares of the biotechnology company's stock after purchasing an additional 47,083 shares during the quarter. Hsbc Holdings PLC owned about 0.19% of BioMarin Pharmaceutical worth $20,461,000 at the end of the most recent reporting period.
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Other institutional investors and hedge funds have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its stake in shares of BioMarin Pharmaceutical by 104.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 27,021 shares of the biotechnology company's stock worth $1,485,000 after buying an additional 13,803 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in BioMarin Pharmaceutical by 1.0% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 194,042 shares of the biotechnology company's stock valued at $10,666,000 after acquiring an additional 1,910 shares in the last quarter. Korea Investment CORP lifted its position in BioMarin Pharmaceutical by 12.4% in the 2nd quarter. Korea Investment CORP now owns 241,603 shares of the biotechnology company's stock valued at $13,281,000 after acquiring an additional 26,700 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in BioMarin Pharmaceutical by 10.4% during the 2nd quarter. Quadrant Capital Group LLC now owns 12,158 shares of the biotechnology company's stock valued at $668,000 after purchasing an additional 1,148 shares during the last quarter. Finally, Vinva Investment Management Ltd increased its holdings in shares of BioMarin Pharmaceutical by 196.9% in the 2nd quarter. Vinva Investment Management Ltd now owns 31,094 shares of the biotechnology company's stock worth $1,715,000 after purchasing an additional 20,620 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on the company. Wedbush reaffirmed an "outperform" rating and set a $94.00 price target on shares of BioMarin Pharmaceutical in a report on Tuesday, October 28th. JPMorgan Chase & Co. boosted their target price on BioMarin Pharmaceutical from $116.00 to $119.00 and gave the stock an "overweight" rating in a research report on Thursday, October 9th. Barclays dropped their price target on shares of BioMarin Pharmaceutical from $86.00 to $80.00 and set an "overweight" rating on the stock in a report on Tuesday, October 28th. HC Wainwright decreased their price objective on shares of BioMarin Pharmaceutical from $60.00 to $55.00 and set a "neutral" rating for the company in a report on Monday, October 27th. Finally, Stifel Nicolaus restated a "hold" rating and set a $61.00 price objective (down previously from $73.00) on shares of BioMarin Pharmaceutical in a research report on Thursday, November 6th. Sixteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $89.91.
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Read Our Latest Research Report on BioMarin Pharmaceutical
BioMarin Pharmaceutical Stock Down 2.1%
Shares of BMRN stock opened at $53.89 on Wednesday. The company has a current ratio of 4.83, a quick ratio of 3.10 and a debt-to-equity ratio of 0.10. BioMarin Pharmaceutical Inc. has a 12 month low of $50.76 and a 12 month high of $73.51. The stock has a market cap of $10.35 billion, a P/E ratio of 20.26, a P/E/G ratio of 0.92 and a beta of 0.30. The company has a 50 day simple moving average of $53.83 and a two-hundred day simple moving average of $56.01.
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BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last issued its quarterly earnings data on Monday, October 27th. The biotechnology company reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.32 by ($0.20). BioMarin Pharmaceutical had a net margin of 16.82% and a return on equity of 9.53%. The business had revenue of $776.13 million for the quarter, compared to the consensus estimate of $782.42 million. During the same period in the previous year, the firm earned $0.91 EPS. The company's revenue was up 4.1% on a year-over-year basis. BioMarin Pharmaceutical has set its FY 2025 guidance at 3.500-3.600 EPS. On average, research analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.
BioMarin Pharmaceutical Profile
(Free Report)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.
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