In a filing, Biomarin Pharmaceutical Inc. revealed its EVP, Chief Legal Officer Davis George Eric unloaded Company’s shares for reported $2.17 million on Mar 28 ’24. In the deal valued at $88.34 per share,24,602 shares were sold. As a result of this transaction, Davis George Eric now holds 55,856 shares worth roughly $4.88 million.
Then, BIENAIME JEAN JACQUES sold 1,000 shares, generating $86,713 in total proceeds. Upon selling the shares at $86.71, the Director now owns 560,203 shares.
Before that, FUCHS HENRY J sold 35,341 shares. Biomarin Pharmaceutical Inc. shares valued at $3,010,396 were divested by the President, Worldwide R&D at a price of $85.18 per share. As a result of the transaction, FUCHS HENRY J now holds 212,117 shares, worth roughly $18.51 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. A number of analysts have revised their coverage, including Bernstein’s analysts, who increased its forecast for the stock in late October from “an Underperform” to “a Mkt perform”. Raymond James began covering BMRN with “Mkt perform” recommendation on September 28, 2023. UBS started covering the stock on September 18, 2023. It rated BMRN as “a Buy”.
Price Performance Review of BMRN
On Monday, Biomarin Pharmaceutical Inc. [NASDAQ:BMRN] saw its stock jump 0.38% to $87.28. Over the last five days, the stock has gained 0.21%. Biomarin Pharmaceutical Inc. shares have fallen nearly -9.48% since the year began. Nevertheless, the stocks have fallen -9.62% over the past one year. While a 52-week high of $100.38 was reached on 01/08/24, a 52-week low of $76.02 was recorded on 03/15/24. SMA at 50 days reached $87.42, while 200 days put it at $89.01. A total of 1.34 million shares were traded, compared to the trading of 1.17 million shares in the previous session.
Levels Of Support And Resistance For BMRN Stock
The 24-hour chart illustrates a support level at 86.78, which if violated will result in even more drops to 86.29. On the upside, there is a resistance level at 87.94. A further resistance level may holdings at 88.61. The Relative Strength Index (RSI) on the 14-day chart is 52.52, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.52, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 29.40%. Stochastics %K at 66.81% 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 Mar 15, 2024, dropping by -0.3 million shares to a total of 2.96 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 3.26 million shares. There was a decline of -10.14%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.58% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.94.
The most recent change occurred on July 27, 2023 when Scotiabank began covering the stock and recommended ‘”a Sector perform”‘ rating along with a $95 price target.
