5 Best Genomic Stocks to Buy Now

4. BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Number of Hedge Fund Holders: 44

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) is the fourth stock on our list of the 10 best genomic stocks to buy now. This is a California-based biotechnology company whose key research is focused on enzyme replacement therapies. As of 2016, BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has marketed 6 orphan drugs, and is in the process of developing new therapies and medications. BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) is traded as a Russell 1000 Component. 

At the end of the second quarter of 2021, 44 hedge funds in Insider Monkey’s database held stakes amounting to $1.32 billion in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN), up from 43 in the previous quarter with stakes worth over $1.26 billion. 

Jefferies analyst Akash Tewari assumed coverage of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) with a Buy rating, raising the price target to $100 on October 6. Tewari justified his rating to investors by stating the company would encash a $2.3 billion opportunity if its two key products, Roctavian and Voxzogo, are approved. He was optimistic about the FDA approval and subsequent profits. 

Julian and Felix Baker’s Baker Bros. Advisors holds the largest stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN), with 7.58 million shares amounting to $633.2 million. 

ClearBridge Investments mentioned the stock in their letter.  Here is what they said in their Q1 2021 investor letter: 

“The Strategy closed out of five positions (including BioMarin). We sold BioMarin Pharmaceutical after a number of its clinical catalysts had played out.”