Is BioMarin Pharmaceutical (BMRN) Stock a Buy For 2021?

Carillon Eagle Mid Cap Growth Fund recently released its Q3 2020 Investor Letter, a copy of which you can download here. You should check out Carillon Eagle Mid Cap Growth Fund’s top 5 stock picks for investors to buy right now, which could be the biggest winners of 2021.

In the Q3 2020 Investor Letter, Carillon Eagle Mid Cap Growth Fund highlighted a few stocks and BioMarin Pharmaceutical Inc (NASDAQ:BMRN) is one of them. BioMarin Pharmaceutical Inc (NASDAQ:BMRN) is a biotechnology company. In the last one year, BioMarin Pharmaceutical Inc (NASDAQ:BMRN) stock gained 4.3% and on December 31st it had a closing price of $87.69. Here is what Carillon Eagle Mid Cap Growth Fund said:

“BioMarin Pharmaceutical is a biotechnology company that develops and commercializes therapies for individuals with serious lifethreatening rare diseases and medical conditions. The firm saw its shares decline after receiving a complete response letter from the U.S Food and Drug Administration (FDA) for its gene therapy treatment for severe hemophilia A. The FDA is requesting two-year follow-up data that will not be available until the second half of 2021. This caught investors off guard as the treatment was widely expected to be approved for a U.S. launch before the end of 2020.”


Last month, we published an article revealing the Alger Spectra Fund’s investment thesis on BioMarin Pharmaceutical Inc (NASDAQ:BMRN) stock. The investment firm said that BioMarin stock will decline in the near term as the FDA unexpectedly requested two years of data from the ongoing Phase 3 trial for Valrox.

In Q3 2020, the number of bullish hedge fund positions on BioMarin Pharmaceutical Inc (NASDAQ:BMRN) stock decreased by about 2% from the previous quarter (see the chart here), so a number of other hedge fund managers don’t believe in BioMarin’s growth potential. Our calculations showed that BioMarin Pharmaceutical Inc (NASDAQ:BMRN) isn’t ranked among the 30 most popular stocks among hedge funds.

The top 10 stocks among hedge funds returned 216% since the end of 2014 and outperformed the S&P 500 Index ETFs by more than 121 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Below you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.

Video: Top 5 Stocks Among Hedge Funds

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Disclosure: None. This article is originally published at Insider Monkey.