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 $1,825,200 were sold by BIENAIME JEAN JACQUES on Apr 12 ’24. At $91.26 per share, BIENAIME JEAN JACQUES sold 20,000 shares. The insider’s holdings dropped to 474,994 shares worth approximately $42.78 million following the completion of this transaction.
Also, BIENAIME JEAN JACQUES sold 20,000 shares, netting a total of over 1,819,800 in proceeds. Following the sale of shares at $90.99 each, the insider now holds 474,994 shares.
Before that, Burkhart Erin had sold 2,286 shares from its account. In a trade valued at $205,740, the GVP, Chief Accounting Officer traded Biomarin Pharmaceutical Inc. shares for $90.00 each. Upon closing the transaction, the insider’s holdings decreased to 2,286 shares, worth approximately $1.46 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 drop of approximately -1.52%. Over the course of the year, Biomarin Pharmaceutical Inc. shares have dropped approximately -6.59%. 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 $87.64, while a 200-day SMA reached $89.01. Nevertheless, trading volume fell to 0.94 million shares from 1.24 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 89.49, which, if violated, would cause prices to drop to 88.92. In the upper region, resistance lies at 90.93. The next price resistance is at 91.79. RSI (Relative Strength Index) is 57.87 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.36, which suggests the price will increase in the coming days. Percent R is at 42.51%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
