U.S. Markets closed

BioMarin Pharmaceutical (BMRN) Jumps: Stock Rises 7.5%

Zacks Equity Research

BioMarin Pharmaceutical Inc. BMRN was a big mover last session, as the company saw its shares rise more than 7% 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 $80.76 to $85.80 in the past one-month time frame.

The stock gained after the company reported updates on valoctocogene roxaparvovec (formerly BMN 270), an investigational gene therapy treatment for severe hemophilia at the American Society of Hemophilia. The findings suggest that a one-time infusion of valoctocogene roxaparvovec has the potential to eliminate bleeds for patients with severe hemophilia A, with a very acceptable safety profile.

The company has seen a mixed track record when it comes to estimate revisions of two increases and one decrease over the past few weeks, while the Zacks Consensus Estimate for the current quarter remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

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

BioMarin Pharmaceutical Inc. Price

BioMarin Pharmaceutical Inc. Price | BioMarin Pharmaceutical Inc. Quote

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

Is BMRN going up? Or down? Predict to see what others think:Up or Down

More Stock News: This Is Bigger than the iPhone!

It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.

Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.

Click here for the 6 trades >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
BioMarin Pharmaceutical Inc. (BMRN) : Free Stock Analysis Report
Emergent Biosolutions, Inc. (EBS) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research