BioMarin Pharmaceutical Inc. (BMRN):

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has seen an increase in enthusiasm from smart money recently.

According to the Wall Street Journal“On December 19, 2013, the Board of Directors (the “Board”) of BioMarin Pharmaceutical, Inc. (the “Company”) approved a promotion for Jeff Ajer to Executive Vice President, Chief Commercial Officer.”

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Now, we’re going to take a look at the latest action regarding BioMarin Pharmaceutical Inc. (NASDAQ:BMRN).

How are hedge funds trading BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)?

In preparation for this quarter, a total of 31 of the hedge funds we track held long positions in this stock, a change of 15% from the previous quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists a select group of notable hedge fund managers who were increasing their holdings considerably.

According to hedge fund intelligence website Insider Monkey, Amici Capital, managed by Paul Orlin and Alex Porter, holds the biggest position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN). Amici Capital has a $157 million position in the stock, comprising 5.7% of its 13F portfolio. The second most bullish hedge fund manager is Blue Ridge Capital, led by John Griffin, holding a $126.3 million position; 1.5% of its 13F portfolio is allocated to the stock. Other hedgies with similar optimism include Samuel Isaly’s OrbiMed Advisors, Julian Baker and Felix Baker’s Baker Bros. Advisors and Jerome Pfund and Michael Sjostrom’s Sectoral Asset Management.

Consequently, some big names were breaking ground themselves. Amici Capital, managed by Paul Orlin and Alex Porter, created the most outsized position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN). Amici Capital had 157 million invested in the company at the end of the quarter. Nick Niell’s Arrowgrass Capital Partners also initiated a $34.4 million position during the quarter. The following funds were also among the new BMRN investors: Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, Peter Muller’s PDT Partners, and Louis Bacon’s Moore Global Investments.

Insider trading activity in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Insider buying is at its handiest when the primary stock in question has seen transactions within the past half-year. Over the last 180-day time period, BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has experienced zero unique insiders purchasing, and 5 insider sales (see the details of insider trades here).

Let’s go over hedge fund and insider activity in other stocks similar to BioMarin Pharmaceutical Inc. (NASDAQ:BMRN). These stocks are Regeneron Pharmaceuticals Inc (NASDAQ:REGN), Seattle Genetics, Inc. (NASDAQ:SGEN), Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX), Onyx Pharmaceuticals, Inc. (NASDAQ:ONXX), and Illumina, Inc. (NASDAQ:ILMN). This group of stocks are the members of the biotechnology industry and their market caps are closest to BMRN’s market cap.

Company Name # of Hedge Funds # of Insiders Buying # of Insiders Selling
Regeneron Pharmaceuticals Inc (NASDAQ:REGN) 28 0 9
Seattle Genetics, Inc. (NASDAQ:SGEN) 11 0 7
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) 23 0 11
Onyx Pharmaceuticals, Inc. (NASDAQ:ONXX) 54 0 10
Illumina, Inc. (NASDAQ:ILMN) 27 0 13

Among the hedge funds Insider Monkey tracks, BioMarin Pharmaceutical Inc. was the second most widely held biotechnology industry stock at the end of Q3.


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