The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Biomarin Pharmaceutical Inc. shares valued at $2,173,341 were sold by Davis George Eric on Mar 28 ’24. At $88.34 per share, Davis George Eric sold 24,602 shares. The insider’s holdings dropped to 55,856 shares worth approximately $5.11 million following the completion of this transaction.
Also, BIENAIME JEAN JACQUES sold 1,000 shares, netting a total of over 86,713 in proceeds. Following the sale of shares at $86.71 each, the insider now holds 560,203 shares.
Before that, FUCHS HENRY J had sold 35,341 shares from its account. In a trade valued at $3,010,396, the President, Worldwide R&D traded Biomarin Pharmaceutical Inc. shares for $85.18 each. Upon closing the transaction, the insider’s holdings decreased to 35,341 shares, worth approximately $19.4 million.
As published in their initiating research note from Wells Fargo on November 15, 2023, Biomarin Pharmaceutical Inc. [BMRN] has been an Overweight and the price target has been revised to $100. Analysts at Bernstein upgraded the stock from ‘”an Underperform”‘ to ‘”a Mkt perform”‘ outlook in a report released in late October. As of September 28, 2023, Raymond James has initiated its “Mkt perform” rating for BMRN. Earlier on September 18, 2023, UBS initiated its rating. Their recommendation was “a Buy” for BMRN stock.
Analyzing BMRN Stock Performance
During the last five days, there has been a surge of approximately 5.26%. Over the course of the year, Biomarin Pharmaceutical Inc. shares have dropped approximately -5.14%. Shares of the company reached a 52-week high of $99.25 on 01/08/24 and a 52-week low of $83.44 on 03/15/24. A 50-day SMA is recorded $87.39, while a 200-day SMA reached $88.96. Nevertheless, trading volume fell to 2.29 million shares from 1.18 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 90.00, which, if violated, would cause prices to drop to 88.53. In the upper region, resistance lies at 92.26. The next price resistance is at 93.05. RSI (Relative Strength Index) is 69.11 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.52, which suggests the price will increase in the coming days. Percent R is at 1.69%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Biomarin Pharmaceutical Inc. subject to short interest?
Stocks of Biomarin Pharmaceutical Inc. saw a sharp rise in short interest on Mar 28, 2024 jumping by 0.0 shares to 3.06 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 3.06 million shares.
