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 $350,324 were sold by Guyer Charles Greg on Nov 12 ’24. At $66.37 per share, Guyer Charles Greg sold 5,278 shares. The insider’s holdings dropped to 68,909 shares worth approximately $4.37 million following the completion of this transaction.
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Also, Guyer Charles Greg purchased 5,278 shares, netting a total of over 350,324 in proceeds.
Before that, Burkhart Erin had sold 714 shares from its account. In a trade valued at $64,260, the GVP, Chief Accounting Officer traded Biomarin Pharmaceutical Inc shares for $90.00 each. Upon closing the transaction, the insider’s holdings decreased to 714 shares, worth approximately $0.92 million.
As published in their initiating research note from Wolfe Research on November 15, 2024, Biomarin Pharmaceutical Inc [BMRN] has been an Outperform and the price target has been revised to $95. Analysts at William Blair downgraded the stock from ‘”an Outperform”‘ to ‘”a Mkt perform”‘ outlook in a report released in late October. Earlier on August 20, 2024, Bernstein upgraded its rating. Their new recommendation was “an Outperform” for BMRN stock which previously was a “a Mkt perform”.
Analyzing BMRN Stock Performance
During the last five days, there has been a drop of approximately -3.28%. Over the course of the year, Biomarin Pharmaceutical Inc shares have dropped approximately -34.19%. Shares of the company reached a 52-week high of $99.25 on 01/08/24 and a 52-week low of $61.15 on 11/19/24. A 50-day SMA is recorded $68.67, while a 200-day SMA reached $81.08. Nevertheless, trading volume fell to 1.36 million shares from 1.25 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 61.99, which, if violated, would cause prices to drop to 60.52. In the upper region, resistance lies at 64.34. The next price resistance is at 65.22. RSI (Relative Strength Index) is 33.54 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.36, which suggests the price will decrease in the coming days. Percent R is at 66.18%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
