Top Investors’ Stock Portfolio: 5 Mid-Cap Stocks To Buy

2. BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Number of Hedge Fund Holders: 61

Market Capitalization as of February 24: $18.97 billion

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) is a California-based company that develops and commercializes therapies for serious and life-threatening rare diseases and medical conditions. The consensus Q4 EPS estimate for BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) is $0.39 and the consensus revenue estimate is $538.24 million, up 19.7% on a year-over-year basis. 

On February 21, Citi analyst David Lebowitz initiated coverage of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) with a Neutral rating and a $116 price target. The analyst acknowledged that BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) is a leading developer of therapies for rare diseases, and has two potentially successful drugs, Voxzogo and Roctavian, in early launches. However, the analyst believes that the company’s recent progress and anticipated achievements in 2023 are already reflected in the current share price. Lebowitz predicts that investors will be closely watching the launch of both drugs, and that the FDA approval of Roctavian in 2023 will be crucial for BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) to meet market expectations.

According to Insider Monkey’s Q4 data, 61 hedge funds were bullish on BioMarin Pharmaceutical Inc. (NASDAQ:BMRN), compared to 62 funds in the last quarter. Julian Baker and Felix Baker’s Baker Bros. Advisors is the biggest position holder in the company, with 7.6 million shares worth $788.6 million. 

Here is what Carillon Tower Advisers specifically said about BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in its Q2 2022 investor letter:

“BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) rose as the company announced a new approval in Japan for its drug to treat achondroplasia (dwarfism), and investors may have become more optimistic regarding its therapy for hemophilia following a positive opinion from European drug regulators. The drug is pending approval and has been delayed by the U.S. Food and Drug Administration to collect more data.”

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