BMRN Stock

BioMarin Pharmaceuticals (BMRN) was a top stock pick based on predictive algorithm recommended to I Know First subscribers on June 5th for the 14-Day time horizon. BMRN had a signal of 37.10 and a predictability of 0.27. In accordance with the algorithm, the company reported short-term capital gains of 14.50%.

BioMarin was part of the stock forecast that can be found in the “BioTech-Stocks” Package.

The full Top 10 BioTech Stocks forecast includes a daily prediction for a total of 20 stocks with bullish and bearish signals:

• Top ten biotech stocks picks to long
• Top ten biotech stocks picks to short

Founded in 1997, BioMarin is a biotech company which found relatively quick success developing and marketing their signature Kuvan drug to cure the metabolism disease phenylketonuria, and later marketing four other distinct orphan drugs. BioMarin stands out as a multi million dollar company that recorded consistent and rapid growth through the Great Recession and through the past decade.

On Thursday June 18th, BMRN stock opened 7% higher on news that their study and testing of the drug BMN 111 to combat achondroplasia (a form of human dwarfism) was wholly positive. The stock closed on the trading day posting 12% gains at an all time closing high of $138.66.

Although the company suffered a downgrade from “buy” to “neutral” by international investment banking company Robert W. Baird and co (Baird), the bankers were forced to raise their target price from $125 to $133 after the news. Like other biotech companies, BioMarin’s revenue comes from sales of its intellectual property which largely takes the form of new drug patents. By the looks of its annual report, it might take some time before they can pump out another drug, however sales on their existing drugs are still high volume.

Before making any trading decisions, consult the latest forecast as the algorithm constantly updates predictions daily. While the algorithm can be used for intra-day trading the predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.

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