Hedge Funds Are Buying BioMarin Pharmaceutical Inc. (BMRN)

As one would reasonably expect, specific money managers were breaking ground themselves. Viking Global, led by “tiger cub” Andreas Halvorsen, initiated the biggest position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN). According to regulatory filings, the fund had $45.4 million invested in the company at the end of the quarter. Steve Cohen’s Point72 Asset Management also made a $14.2 million investment in the stock during the quarter. The other funds with new positions in the stock are Solomon Kumin’s Folger Hill Asset Management, Curtis Macnguyen’s Ivory Capital (Investment Mgmt), and Barry Rosenstein’s JANA Partners.

Let’s go over hedge fund activity in other stocks similar to BioMarin Pharmaceutical Inc. (NASDAQ:BMRN). We will take a look at Vulcan Materials Company (NYSE:VMC), Smith & Nephew plc (ADR) (NYSE:SNN), CenturyLink, Inc. (NYSE:CTL), and Genuine Parts Company (NYSE:GPC). This group of stocks’ market caps resemble BMRN’s market cap.

As you can see these stocks had an average of 26 hedge funds with bullish positions and the average amount invested in these stocks was $598 million. That figure was a whooping $1.67 billion in BMRN’s case. Vulcan Materials Company (NYSE:VMC) is the most popular stock in this table. On the other hand Smith & Nephew plc (ADR) (NYSE:SNN) is the least popular one with only 11 bullish hedge fund positions. Compared to these stocks BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: none.