Billionaire Paul Singer’s 10 Stock Picks with Huge Upside Potential

3. Biomarin Pharmaceutical Inc. (NASDAQ:BMRN)

Elliott Management’s Stake: $230.08 million

Number of Hedge Fund Holders: 51

Average Upside Potential as of May 5: 62.68%

Biomarin Pharmaceutical Inc. (NASDAQ:BMRN) is a biotech company that develops and commercializes therapies for life-threatening rare diseases and medical conditions. It serves specialty pharmacies, hospitals, non-US government agencies, distributors, and pharmaceutical wholesalers. It has license and collaboration agreements with Catalyst Pharmaceutical Partners and Ares Trading.

VOXZOGO is Biomarin’s transformative medicine that was approved 4 years ago for treating achondroplasia, which is a genetic bone growth disorder. In Q1 2025, VOXZOGO’s global revenue reached $214 million, which was up 40% year-over-year. VOXZOGO is now accessible to children with achondroplasia across 49 countries, and BioMarin is expanding access to over 60 countries by 2027.

In the US, the company is increasing new patient uptake, with the expectation that these efforts will drive expansion beginning in H2 2025. Biomarin Pharmaceutical Inc. (NASDAQ:BMRN) expects VOXZOGO 2025 revenues to be between $900 and $950 million. On April 21, Oppenheimer reiterated its Outperform rating on BioMarin shares, while maintaining a $98 price target.