Should You Invest in BioMarin Pharmaceutical (BMRN)?

Carillon Tower Advisers, an investment management company, released its “Carillon Scout Mid Cap Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. In the second quarter, majority of the equity indexes declined due to interest rate hikes, Russia-Ukraine war, and Federal Reserve's balance-sheet tapering. Mid-cap and small-cap stocks poorly performed in the quarter relative to other investments. The fund’s portfolio was most overweight in the utilities and consumer staples sectors and is currently underweight in the information technology sector. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Carillon Tower Advisers discussed stocks like BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the second quarter 2022 investor letter. Headquartered in San Rafael, California, BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) engages in developing and commercializing biopharmaceuticals for rare diseases. On October 5, 2022, BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) stock closed at $89.53 per share. One-month return of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) was -3.74% and its shares gained 16.06% of their value over the last 52 weeks. BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has a market capitalization of $16.605 billion.

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.”

Highest Suicidal States in America in 2018
Highest Suicidal States in America in 2018

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BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 59 hedge fund portfolios held BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) at the end of the second quarter which was 56 in the previous quarter.

We discussed BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in another article and shared the stock picks of Roberto Mignone’s Bridger Management. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.