Top 10 Stock Picks of Elliott Management

6. BioMarin Pharmaceutical Inc (NASDAQ:BMRN)

Elliott Management’s Stake Value: $305.72 Million

Number of Hedge Fund Holders: 51

BioMarin Pharmaceutical Inc (NASDAQ:BMRN) is one of the top 10 holdings of Elliott Management, offering exposure in the healthcare sector. The company develops and commercializes therapies for people with severe and life-threatening illnesses.

The activist hedge fund launched an activist campaign against BioMarin Pharmaceutical Inc (NASDAQ:BMRN) last year, resulting in the company offering three independent director slots on the board. The hedge fund was also to form a committee to evaluate the company’s business strategy and operations.

After initially rallying on the activist campaign, BioMarin Pharmaceutical Inc (NASDAQ:BMRN) has come under pressure, dropping by about 11% in 2024. 51 out of 920 hedge funds tracked by the Insider Monkey database held stakes in the company as of the end of Q1 2024.