BioMarin Pharmaceutical (BMRN) Jumps: Stock Rises 7.5%
Zacks Investment Research | Dec 11, 2017 08:52PM ET
BioMarin Pharmaceutical Inc. (NASDAQ: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
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Is BMRN going up? Or down? Predict to see what others think:Down
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