Large Inflow of Money Detected in BioMarin Pharmaceutical

BioMarin Pharmaceutical (BMRN) : $1.44 million worth of transactions were on upticks in BioMarin Pharmaceutical (BMRN), compared to $0.7 million on downticks. The ratio between the two was 2.06, whereas, the net money flow stood at a healthy $0.74 million on Tuesdays session. The consistent buying on upticks in the stock accounted for $0.1million worth of trades. The total money flow into the stock stood at $0 million. The bulls and the bears were in an equilibrium as the stock closed with a loss of -0.09%. The stock was trading at $95.65, with a drop of $0.09 over the previous days close. The stock recorded -0.59% for the week.


Also, Barclays maintains their rating on the shares of BioMarin Pharmaceutical (NASDAQ:BMRN). The current rating of the shares is Overweight. Equity Analysts at the Firm raises the price target to $125 per share from $105 per share. The rating by the firm was issued on August 5, 2016.

BioMarin Pharmaceutical Inc. has lost 4.51% in the last five trading days and dropped 5.29% in the last 4 weeks. BioMarin Pharmaceutical Inc. is up 8.64% in the last 3-month period. Year-to-Date the stock performance stands at -9.36%.

BioMarin Pharmaceutical (NASDAQ:BMRN): The stock opened at $95.75 on Tuesday but the bulls could not build on the opening and the stock topped out at $96.61 for the day. The stock traded down to $94.84 during the day, due to lack of any buying support eventually closed down at $94.95 with a loss of -0.83% for the day. The stock had closed at $95.74 on the previous day. The total traded volume was 712,516 shares.

In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director officer (Chief Executive Officer) of Biomarin Pharmaceutical Inc, Bienaime Jean Jacques had sold 41,666 shares worth of $3,812,022 in a transaction dated August 16, 2016. In this transaction, 41,666 shares were sold at $91.49 per share.

BioMarin Pharmaceutical Inc. develops and commercializes pharmaceuticals for serious diseases and medical conditions. The Companys product portfolio is comprised of five approved products and multiple clinical and pre-clinical product candidates. Its approved products are Vimizim (elosulfase alpha), Naglazyme (galsulfase), Kuvan (sapropterin dihydrochloride), Aldurazyme (laronidase) and Firdapse (amifampridine phosphate). Vimizim received marketing approval in the United States, the European Union and subsequently in several other countries. Naglazyme received marketing approval in the United States, the European Union and subsequently in other countries. Kuvan was granted marketing approval in the United States, the European Union. Aldurazyme, which was developed in collaboration with Genzyme Corporation (Genzyme), was approved for marketing in the United States, the European Union, and subsequently in other countries. Firdapse was approved by the European Medicines Agency (EMA).

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