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

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Consequently, key hedge funds were breaking ground themselves. Tourbillon Capital Partners, managed by Jason Karp, created the most valuable call position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN). Tourbillon Capital Partners had $21.1 million invested in the company at the end of the quarter. Hal Mintz’s Sabby Capital also made a $18.3 million investment in the stock during the quarter. The other funds with brand new BMRN positions are David Lamond’s Lamond Capital Partners, Matthew Tewksbury’s Stevens Capital Management, and Brad Farber’s Atika Capital.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) but similarly valued. These stocks are Hormel Foods Corporation (NYSE:HRL), Sigma-Aldrich Corporation (NASDAQ:SIAL), Smith & Nephew plc (ADR) (NYSE:SNN), and Shinhan Financial Group Co., Ltd. (ADR) (NYSE:SHG). This group of stocks’ market values resemble BMRN’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
HRL 15 192187 -6
SIAL 34 1572116 -3
SNN 14 158598 -7
SHG 5 6730 -3

As you can see these stocks had an average of 17 hedge funds with bullish positions and the average amount invested in these stocks was $482 million. That figure was $1742 million in BMRN’s case. Sigma-Aldrich Corporation (NASDAQ:SIAL) is the most popular stock in this table. On the other hand Shinhan Financial Group Co., Ltd. (ADR) (NYSE:SHG) is the least popular one with only 5 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.

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