Paul Singer’s Latest Portfolio: Top 10 Stock Picks

8. BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Elliott Management’s Equity Stake: $230.08 Million

Number of Hedge Funds Holding Stakes: 51

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) is a biotechnology company that develops and commercializes innovative therapies for rare genetic diseases and medical conditions. Its products include VIMIZIM, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A. While the stock was down by about 15% in 2024, it is showing signs of bouncing back, going by the 7% year-to-date gain.

The rally comes on BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) delivering solid fourth-quarter and full-year results. Revenue in the fourth quarter was up 16% to $747 million as net income nearly doubled to $180 million or $0.92 a share from a profit of $95 million a year ago. BioMarin attributed the significantly higher-than-anticipated profits to the global increase in demand for its enzyme treatments. The company also benefits from large-scale government orders.

BioMarin Pharmaceutical Inc.’s (NASDAQ:BMRN) sales increased at a respectable 10.9% compound annual growth rate during the previous five years. Its growth was marginally higher than that of the typical healthcare company, indicating that its products are well-liked by clients. Over the past five years, its earnings per share have grown at an impressive 30.8% compound annual growth rate, which is better than the annualized sales growth of 10.9%.