11 Best Genomics Stocks to Buy According to Hedge Funds

Page 8 of 10

3. BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Number of Hedge Fund Holders: 59

Gena Wang of Barclays kept BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) at a Buy rating with a price target of $86.00 in a report published on June 10.

According to BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)’s most recent earnings report, the firm made $745.15 million in revenue and $185.69 million in net profit for the quarter that ended on March 31. The company’s sales were $648.83 million, and its net profit was $88.66 million last year.

It is challenging to avoid past comparisons with Genzyme (bought by Sanofi) as BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) builds a portfolio of genetic-disease therapies. Despite having several authorized treatments, the firm spent years in the red due to commercialization and R&D costs, but analysts are optimistic about the long-term, profitable potential of its present portfolio. It is in a strong position because of its extensive internal pipeline and capacity to add expansion through strategic acquisitions.

Page 8 of 10