Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Biomarin Pharmaceutical Inc. shares valued at $64,260 were sold by Burkhart Erin on Aug 13 ’24. At $90.00 per share, Burkhart Erin sold 714 shares. The insider’s holdings dropped to 14,449 shares worth approximately $0.98 million following the completion of this transaction.
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Also, Burkhart Erin purchased 714 shares, netting a total of over 64,260 in proceeds.
Before that, Mueller Brian had sold 5,000 shares from its account. In a trade valued at $375,950, the EVP, Chief Financial Officer traded Biomarin Pharmaceutical Inc. shares for $75.19 each. Upon closing the transaction, the insider’s holdings decreased to 5,000 shares, worth approximately $4.92 million.
As published in a research note from Bernstein on August 20, 2024, Biomarin Pharmaceutical Inc. [BMRN] has been rated up from a Mkt perform to an Outperform and the price target has been revised to $110 from $94. Analysts at Robert W. Baird downgraded the stock from ‘”an Outperform”‘ to ‘”a Neutral”‘ outlook in a report released in mid May. As of May 14, 2024, Evercore ISI has initiated its “an Outperform” rating for BMRN. Earlier on November 15, 2023, Wells Fargo initiated its rating. Their recommendation was “an Overweight” for BMRN stock.
Analyzing BMRN Stock Performance
During the last five days, there has been a drop of approximately -2.96%. Over the course of the year, Biomarin Pharmaceutical Inc. shares have dropped approximately -29.31%. Shares of the company reached a 52-week high of $99.25 on 01/08/24 and a 52-week low of $67.75 on 09/24/24. A 50-day SMA is recorded $82.74, while a 200-day SMA reached $85.64. Nevertheless, trading volume fell to 1.4 million shares from 1.14 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 67.57, which, if violated, would cause prices to drop to 66.98. In the upper region, resistance lies at 69.28. The next price resistance is at 70.40. RSI (Relative Strength Index) is 24.11 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.72, which suggests the price will decrease in the coming days. Percent R is at 96.00%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
