Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Biomarin Pharmaceutical Inc. shares valued at $375,950 were sold by Mueller Brian on May 30 ’24. At $75.19 per share, Mueller Brian sold 5,000 shares. The insider’s holdings dropped to 72,159 shares worth approximately $6.13 million following the completion of this transaction.
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Also, Davis George Eric sold 40,850 shares, netting a total of over 3,043,802 in proceeds. Following the sale of shares at $74.51 each, the insider now holds 56,157 shares.
Before that, BIENAIME JEAN JACQUES had sold 20,000 shares from its account. In a trade valued at $1,622,800, the Director traded Biomarin Pharmaceutical Inc. shares for $81.14 each. Upon closing the transaction, the insider’s holdings decreased to 20,000 shares, worth approximately $40.38 million.
As published in a research note from Robert W. Baird on May 17, 2024, Biomarin Pharmaceutical Inc. [BMRN] has been rated down from an Outperform to a Neutral and the price target has been revised to $72 from $104. Analysts at Evercore ISI started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid May. As of November 15, 2023, Wells Fargo has initiated its “an Overweight” rating for BMRN. Earlier on October 23, 2023, Bernstein upgraded its rating. Their new recommendation was “a Mkt perform” for BMRN stock which previously was a “an Underperform”.
Analyzing BMRN Stock Performance
During the last five days, there has been a drop of approximately -0.27%. Over the course of the year, Biomarin Pharmaceutical Inc. shares have dropped approximately -11.82%. Shares of the company reached a 52-week high of $99.25 on 01/08/24 and a 52-week low of $73.68 on 05/30/24. A 50-day SMA is recorded $81.29, while a 200-day SMA reached $87.03. Nevertheless, trading volume fell to 0.61 million shares from 1.06 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 80.11, which, if violated, would cause prices to drop to 79.24. In the upper region, resistance lies at 82.33. The next price resistance is at 83.68. RSI (Relative Strength Index) is 59.39 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.93, which suggests the price will decrease in the coming days. Percent R is at 93.21%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
