Investing
BioMarin Pharma gains on report Elliott has a stake
© Reuters. BioMarin Pharma (BMRN) gains on report Elliott has a stake
Activist investor Elliott Investment Management has acquired a stake in BioMarin Pharmaceutical (NASDAQ:), according to Reuters.
The hedge fund has engaged in discussions with the biotechnology company regarding its future. Elliott, which is overseeing approximately $60 billion in assets, invested over $1 billion in BioMarin, the report added.
BioMarin’s market cap stood at $14.34 billion through Monday’s close.
BioMarin’s shares have seen a 24% decline year-to-date, significantly underperforming the iShares Biotechnology ETF, which has a decrease of 8.6%. Shares added 9.5 in early Tuesday trade on Reuters’ reporting.
Elliott has previously targeted healthcare companies like Catalent (NYSE:), where it secured board seats in August, and Syneos, participating in a consortium that privatized the company this year.
The activist investor has also been successful in advocating for the sale of pharmaceutical companies like Alexion (NASDAQ:) Pharma and Allergan (NYSE:).
Read the full article here
What to Do If TikTok is Banned — How to Protect Your Brand
10 Roles That Are Surprisingly Well-Suited for Outsourcing
How AI Can Make Us Better Leaders
How Pets Can Promote Better Health and Well-Being in the Workplace
Biden cancels more student loans with one week left to his term
10 Critical Questions to Ask Your Financial Advisor Now
10 Ways to Make Money As a Graphic Designer
If you are 60 years old, new 401(k) rules could save you money
Could Easier Cancellations Build Customer Loyalty?
Airbus keeps top spot with 766 jet deliveries in 2024 By Reuters
Debt ceiling debate and its effect on the U.S. dollar
Debt ceiling default: Still no deal between parties
Stovall: If the U.S. defaults on its debt, all S&P 500 sectors will likely fall
What China's weaker-than-expected economy could mean for U.S. markets
A ‘Big Short’ investor sees financial disaster brewing in housing markets — again
-
Make Money7 days ago10 Critical Questions to Ask Your Financial Advisor Now
-
Make Money6 days ago10 Ways to Make Money As a Graphic Designer
-
Personal Finance5 days agoIf you are 60 years old, new 401(k) rules could save you money
-
Investing6 days agoCould Easier Cancellations Build Customer Loyalty?
-
Investing7 days agoAirbus keeps top spot with 766 jet deliveries in 2024 By Reuters
-
Investing4 days agoBank regulator gives BlackRock new deadline on bank stakes, Bloomberg reports By Reuters
-
Side Hustles6 days agoTrump’s 2025 Inaugural Committee Raises Record $170 Million
-
Passive Income7 days agoHow to Build a Solid Go-to-Market Strategy for 2025