Sunday, June 26, 2022

BioMarin Pharmaceutical Inc. [BMRN] EVP, Chief Commercial Officer makes an insider sale of 1,308 shares worth 103,254.

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. BioMarin Pharmaceutical Inc. shares valued at $103,254 were sold by Ajer Jeffrey Robert on May 26. At $78.94 per share, Ajer Jeffrey Robert sold 1,308 shares. The insider’s holdings dropped to 54,109 shares worth approximately $4.4 million following the completion of this transaction.

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Also, BIENAIME JEAN JACQUES sold 20,000 shares, netting a total of over 1,620,000 in proceeds. Following the sale of shares at $81.00 each, the insider now holds 335,324 shares.

Before that, BIENAIME JEAN JACQUES had sold 10,000 shares from its account. In a trade valued at $841,400, the Chief Executive Officer traded BioMarin Pharmaceutical Inc. shares for $84.14 each. Upon closing the transaction, the insider’s holdings decreased to 10,000 shares, worth approximately $27.27 million.

As published in their initiating research note from Jefferies on June 06, 2022, Relay Therapeutics Inc. [RLAY] has been an Underperform and the price target has been revised to $13. This represents a -36.77% premium over Wednesday’s closing price. Analysts at Berenberg started covering the stock with ‘”a Buy”‘ outlook in a report released in early February. As of July 21, 2021, BofA Securities has initiated its “Buy” rating for RLAY. Earlier on December 15, 2020, H.C. Wainwright resumed its rating. Their recommendation was “a Buy” for RLAY stock. This represents a -16.17% premium over Wednesday’s closing price. Analysts at Morgan Stanley upgraded the stock from ‘”an Equal-weight”‘ to ‘”an Overweight”‘ outlook in a report released in late April. As of November 22, 2021, William Blair has increased its “Mkt perform” rating to a “an Outperform” for BMRN.

Analyzing BMRN’s Price Performance

On Wednesday, BioMarin Pharmaceutical Inc. [NASDAQ: BMRN] rose 3.72% to $81.32. The stock’s lowest price that day was $77.735, but it reached a high of $83.56 in the same session. During the last five days, there has been a surge of approximately 13.77%. Over the course of the year, BioMarin Pharmaceutical Inc. shares have dropped approximately -7.96%. Shares of the company reached a 52-week high of $94.20 on 02/10/22 and a 52-week low of $70.73 on 06/14/22. A 50-day SMA is recorded $78.83, while a 200-day SMA reached $81.50. Nevertheless, trading volume fell to 2.1 million shares from 1.88 million shares the previous day.

Support And Resistance Levels for BioMarin Pharmaceutical Inc. (BMRN)

According to the 24-hour chart, there is a support level at 78.18, which, if violated, would cause prices to drop to 75.05. In the upper region, resistance lies at 84.01. The next price resistance is at 86.70. RSI (Relative Strength Index) is 58.51 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.72, which suggests the price will increase in the coming days. Percent R is at 17.46%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.

Which companies own the most shares of BioMarin Pharmaceutical Inc. (BMRN)?

According to PRIMECAP Management Co. filings, the company currently owns 17,779,470 shares, which is about 9.61% of the total BMRN shares outstanding. The investor’s shares have plunged by -25,310 from its previous 13-F filing of 17804780.0 shares. With the completion of the buy, The Vanguard Group, Inc.’s stake is now worth $1,212,991,806. Dodge & Cox acquire a 1.42% interest valued at $1.13 billion while BlackRock Fund Advisors purchased a 71,270 stake. A total of -3,284,052 shares of BioMarin Pharmaceutical Inc. were bought by Capital Research & Management Co during the quarter, and 0 were sold by Baker Bros. Advisors LP. In its current portfolio, SSgA Funds Management, Inc. holds 5,380,393 shares valued at $404.23 million.

In terms of BioMarin Pharmaceutical Inc. share price expectations, FactSet research, analysts set an average price target of $114.33 in the next 12 months, up nearly 43.49% from the previous closing price of $78.40. Analysts anticipate BioMarin Pharmaceutical Inc. stock to reach $176.00 by 2022, with the lowest price target being $70.00. In spite of this, 21 analysts ranked BioMarin Pharmaceutical Inc. stock as a Buy at the end of 2022. On September 09, 2021, Stifel assigned a price target of “a Buy” to the stock and upgraded coverage with a $96.

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