Examining the Potential Price Growth of Biomarin Pharmaceutical Inc. (BMRN)

Biomarin Pharmaceutical Inc.’s recent filing unveils that its Director BIENAIME JEAN JACQUES unloaded Company’s shares for reported $0.96 million on Jan 10. In the deal valued at $96.38 per share,10,000 shares were sold. As a result of this transaction, BIENAIME JEAN JACQUES now holds 425,162 shares worth roughly $37.61 million.

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Then, BIENAIME JEAN JACQUES sold 10,000 shares, generating $981,900 in total proceeds. Upon selling the shares at $98.19, the Director now owns 425,162 shares.

Before that, BIENAIME JEAN JACQUES sold 10,000 shares. Biomarin Pharmaceutical Inc. shares valued at $939,900 were divested by the Director at a price of $93.99 per share. As a result of the transaction, BIENAIME JEAN JACQUES now holds 425,112 shares, worth roughly $37.61 million.

Wells Fargo initiated its Biomarin Pharmaceutical Inc. [BMRN] rating to an Overweight in a research note published on November 15, 2023; the price target was $100.

Price Performance Review of BMRN

On Friday, Biomarin Pharmaceutical Inc. [NASDAQ:BMRN] saw its stock jump 0.35% to $88.46. Over the last five days, the stock has gained 0.40%. Biomarin Pharmaceutical Inc. shares have fallen nearly -8.26% since the year began. Nevertheless, the stocks have fallen -19.90% over the past one year. While a 52-week high of $111.73 was reached on 01/08/24, a 52-week low of $76.02 was recorded on 02/05/24. SMA at 50 days reached $93.67, while 200 days put it at $90.21. A total of 1.36 million shares were traded, compared to the trading of 1.14 million shares in the previous session.

Levels Of Support And Resistance For BMRN Stock

The 24-hour chart illustrates a support level at 87.98, which if violated will result in even more drops to 87.50. On the upside, there is a resistance level at 88.79. A further resistance level may holdings at 89.12. The Relative Strength Index (RSI) on the 14-day chart is 39.61, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.07, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 81.43%. Stochastics %K at 22.57% indicates the stock is a holding.

How much short interest is there in Biomarin Pharmaceutical Inc.?

A steep rise in short interest was recorded in Biomarin Pharmaceutical Inc. stocks on Jan 31, 2024, dropping by -0.53 million shares to a total of 3.17 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2023 was 3.7 million shares. There was a decline of -16.72%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.69% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.74.

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