BMRN Price Prediction Next Week
Based on the provided data and technical indicators, here's the analysis for BMRN's price prediction for next week:
Technical Analysis
The current technical indicators show:
- RSI(14) at 49.75 indicates neutral momentum
- MACD at -0.42 suggests bearish short-term momentum
- Current price is trading below both SMA-20 (63.23) and SMA-200 (75.28), indicating a bearish trend
Fundamental Catalysts
- JPMorgan maintains an "Overweight" rating with $109 price target, seeing significant upside potential
- Strong VOXZOGO demand with over 3,800 patients treated by Q3 2024
- Company targets ~$4 billion revenue by 2027 with 40% operating margin starting 2026
- Recent partnership with Arup Laboratories for blood testing services development
Price Projection for Next Week Based on Fibonacci levels:
- Resistance levels: R1: $64.64, R2: $65.54, R3: $66.98
- Support levels: S1: $61.75, S2: $60.86, S3: $59.41
- Pivot point: $63.20
Recommendation SELL with target price of $60.86 (S2 level) for next week because:
- Bearish technical indicators with price below key moving averages
- Negative MACD suggesting continued downward momentum
- Despite positive fundamental outlook, short-term technical weakness likely to persist
- Set stop loss at R1 ($64.64) to manage risk
BMRN Similar Chart Price Prediction
The price of BMRN is predicted to go up -0.73%, based on the high correlation periods with GLW. The similarity of these two price pattern on the periods is 96.97%.
BMRN
GLW
Down: -0.73%Similarity: 96.97%
BMRN Revenue Forecast
BMRN EPS Forecast
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BMRN VS S&P500
BioMarin's approved drugs have been granted orphan-drug status in the US and EU, providing them with at least 7 and 10 years of market exclusivity, respectively.
BioMarin's drugs target rare chronic conditions that often require treatment from a very young age, and while locating eligible patients on a global level is challenging, the firm has high patient retention rates.
With a growing portfolio in an attractive rare-disease niche-and acceleration of profit growth beginning in 2022-BioMarin could be an acquisition target for pharmaceutical firms with pipelines to fill.
BMRN Analyst's Forecast
David Lebovitz
Citigroup
Hold
2024-10-30
Price Target
$93 → $81
Upside
+21.48%
Citi analyst David Lebowitz lowered the firm's price target on BioMarin to $81 from $93 and keeps a Neutral rating on the shares. The company reported Q3 financial results, highlighting a top- and bottom-line beat and marginally raising fiscal 2024 guidance across all key metrics, the analyst tells investors in a research note. The firm says that Voxzogo came in shy of expectations, this was offset by better than expected results for several products in BioMarin's enzyme replacement therapy business.
Whitney Ijem
Canaccord Genuity
Hold
2024-10-30
Price Target
$93 → $84
Upside
+25.97%
Jessica Fye
JP Morgan
Buy
2024-10-30
Price Target
$110 → $109
Upside
+63.47%
