5 Biotech and Pharmaceutical Stocks to Buy According to Palo Alto Investors

2. BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

PAI’s Stake Value: $184,649,000
Percent of 13F Portfolio: 10.17%
Number of Hedge Fund Holders: 44

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) is an American biotechnology firm based in San Rafael, California.

On September 9, Stifel analyst Paul Matteis upgraded BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) to “Buy” from “Hold” and raised his price target to $96, up from $86.

ClearBridge Investments, in its first-quarter 2021 investor letter, mentioned BioMarin Pharmaceutical Inc. (NASDAQ:BMRN). Here is what the fund said: 

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