BioMarin Pharmaceutical Inc.
- ExchangeNASDAQ Stock Market
- SectorPharmaceuticals & Biotechnology
- CountryUnited States
Bullish Outlook Intact Amid rising Middle East tensions, investors have moved to safe-havens including Treasuries and gold, all while having a muted effect on the US equity market. At this point in time, the rising tensions have done virtually no damage to the bullish trends and indicators that continue to dominate the market. We remain bullish. â€¢ 10-Year Treasury. The 10-year yield has fallen to logical support at the uptrend or 1.75%, a level we expect to hold. A breakdown would raise concerns of a deeper pullback for US equities... see chart below. â€¢ Gold Testing Key Resistance. Gold...
MSCI ACWI, STOXX 600 Breaking Out The market continues to feed off of optimism surrounding the US-China â€œphase oneâ€ trade deal. Boris Johnson's UK election victory has added an additional tailwind, particularly in the UK and Europe, where the UK's FTSE 250 and the STOXX Europe 600 indexes are breaking out to all-time highs. At some point the euphoria is likely to wear off, but with continued global bullish developments, it remains our belief that pullbacks should be bought and that global equities are in the early stages of a broad-based advance. â€¢ Sector Relative Strength Rankings (RS...
BIOMARIN PHARMA (US), a company active in the Biotechnology industry, reduced its market risk and raised its general evaluation. The independent financial analyst theScreener awarded an improved star rating to the company, which now shows 1 out of 4 possible stars; its market behaviour has improved and can be considered as defensive. theScreener believes that this new assessment merits an overall rating upgrade to Slightly Positive. As of the analysis date April 30, 2021, the closing price was USD 77.92 and its potential was estimated at USD 101.25.