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Biomarin Pharmaceutical Inc. (BMRN) rating initates by Wells Fargo

Biomarin Pharmaceutical Inc.’s recently made public that its Director BIENAIME JEAN JACQUES unloaded Company’s shares for reported $1.62 million on May 10 ’24. In the deal valued at $81.14 per share,20,000 shares were sold. As a result of this transaction, BIENAIME JEAN JACQUES now holds 474,994 shares worth roughly $38.24 million.

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Then, BIENAIME JEAN JACQUES sold 20,000 shares, generating $1,632,400 in total proceeds. Upon selling the shares at $81.62, the Director now owns 474,994 shares.

Before that, Ajer Jeffrey Robert sold 5,000 shares. Biomarin Pharmaceutical Inc. shares valued at $414,550 were divested by the EVP, Chief Commercial Officer at a price of $82.91 per share. As a result of the transaction, Ajer Jeffrey Robert now holds 66,767 shares, worth roughly $5.37 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 fall -0.65% to $80.50. Over the last five days, the stock has lost -1.95%. Biomarin Pharmaceutical Inc. shares have fallen nearly -16.51% since the year began. Nevertheless, the stocks have fallen -15.61% over the past one year. While a 52-week high of $99.56 was reached on 01/08/24, a 52-week low of $76.02 was recorded on 05/13/24. SMA at 50 days reached $86.08, while 200 days put it at $88.79. A total of 1.28 million shares were traded, compared to the trading of 1.52 million shares in the previous session.

Levels Of Support And Resistance For BMRN Stock

The 24-hour chart illustrates a support level at 80.06, which if violated will result in even more drops to 79.61. On the upside, there is a resistance level at 81.26. A further resistance level may holdings at 82.01. The Relative Strength Index (RSI) on the 14-day chart is 35.62, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.52, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 98.97%. Stochastics %K at 5.00% indicates the stock is a buying.

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.

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