Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Is BioMarin Pharmaceutical Inc. (BMRN) A Good Stock To Buy?

Page 1 of 2

Between June 25 and October 30th the Russell 2000 ETF (IWM) lagged the larger S&P 500 ETF (SPY) by more than 14 percentage points as investors worried over the possible ramifications of rising interest rates. The hedge funds and institutional investors we track typically invest more in smaller-cap stocks than an average investor, and we have seen data that shows those funds paring back their overall exposure. Those funds cutting positions in small-caps is one reason why volatility has increased. In the following paragraphs, we take a closer look at what hedge funds and prominent investors think of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) and see how the stock is affected by the recent hedge fund activity.

Is BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) a bargain? Investors who are in the know are buying. The number of bullish hedge fund positions advanced by 1 recently. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as Hormel Foods Corporation (NYSE:HRL), Sigma-Aldrich Corporation (NASDAQ:SIAL), and Smith & Nephew plc (ADR) (NYSE:SNN) to gather more data points.

Follow Biomarin Pharmaceutical Inc (NASDAQ:BMRN)
Trade (NASDAQ:BMRN) Now!

In today’s marketplace there are a large number of indicators stock market investors use to evaluate their holdings. A duo of the most under-the-radar indicators are hedge fund and insider trading indicators. We have shown that, historically, those who follow the top picks of the elite investment managers can outperform the market by a significant margin (see the details here).

Keeping this in mind, we’re going to take a look at the latest action surrounding BioMarin Pharmaceutical Inc. (NASDAQ:BMRN).

What have hedge funds been doing with BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)?

At the end of the third quarter, a total of 50 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 2% from the second quarter. With hedgies’ sentiment swirling, there exists a select group of noteworthy hedge fund managers who were boosting their holdings substantially (or already accumulated large positions).

When looking at the institutional investors followed by Insider Monkey, Julian Baker and Felix Baker’s Baker Bros. Advisors has the largest position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN), worth close to $429.3 million, corresponding to 4% of its total 13F portfolio. The second most bullish fund manager is William Leland Edwards of Palo Alto Investors, with a $175.5 million position; the fund has 8.4% of its 13F portfolio invested in the stock. Remaining hedge funds and institutional investors that are bullish contain John Griffin’s Blue Ridge Capital, Paul Orlin and Alex Porter’s Amici Capital and Jerome Pfund and Michael Sjostrom’s Sectoral Asset Management.

Page 1 of 2

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...
X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!