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BioMarin (BMRN) Catches Eye: Stock Jumps 6.1%

Zacks Equity Research

BioMarin Pharmaceutical Inc. BMRN was a big mover last session, as the company saw its shares rise more than 6% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $83.50 to $89.87 in the past one-month time frame.

The upmove came after the company announced that the FDA has accepted valoctocogene roxaparvovec under priority review. Notably, the drug is being developed to treat adults with hemophilia A.

The company has seen one negative estimate revision in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So, make sure to keep an eye on this stock going forward, to see if this recent move higher can last.

BioMarin currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.

BioMarin Pharmaceutical Inc. Price

BioMarin Pharmaceutical Inc. Price

BioMarin Pharmaceutical Inc. price | BioMarin Pharmaceutical Inc. Quote

Investors interested in the Medical - Biomedical and Genetics industry may consider Guardant Health, Inc. GH, which has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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