Q2 STOCKS TO BUY

BioMarin Pharmaceutical Inc. (BMRN) Soars, Traders Emerge

BioMarin Pharmaceutical Inc. (BMRN) hit an all-time high today

Digital Content Group
Mar 27, 2015 at 11:22 AM
facebook X logo linkedin


A price-target hike at Deutsche Bank sent BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) to an all-time high of $133.54 this morning. At last check, the equity was 13.6% higher at $131.24, after the brokerage firm boosted its price target to $140 from $90, saying the company could potentially be bought out for between $194-$271 per share, pending results from various drug trials. As such, options volume has exploded, with the contracts crossing at seven times what's normally seen at this point in the day.

Among BMRN's most popular contracts today is the May 115 put, with signs pointing to buy-to-open activity. Apparently, these speculators haven't been persuaded by this morning's developments, as they're placing bets on the shares to fall below $115 by the close on Friday, May 15, when the series expires.

Today's put buying is just more of the same from BMRN's speculators. During the past two weeks at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock has accumulated a put/call volume ratio of 0.32, which ranks in the 68th percentile of its annual range. In other words, put buying has seen a slight uptick versus call buying of late.

Elsewhere, Deutsche Bank isn't the only brokerage firm with high hopes for the equity. Specifically, 13 of 16 analysts covering the stock say it's a "buy" or better.

On the charts, BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has been tearing it up. It's nearly doubled in value over the past 52 weeks, and its 10-week moving average acted as support in the latter half of 2014 and continues to do so into 2015.

Weekly Chart of BMRN since May 2014 with 10-Week Moving Average
 
 

“Buy This Stock Now!” - Expert Who Called 11x On TSLA

He called a rare 11x on Tesla…

But now, thanks to Elon & Trump’s new alliance…

He says there’s a new opportunity that could be 1,000x BIGGER than Tesla – and it could completely revolutionize a $23 Trillion market.

It’s trading for less than $5 per share right now…

But it won’t be under the radar for long.

Discover The 1,000x Bigger Elon Opportunity Here

GRAND SLAM COUNTDOWN

 
 

Featured Articles from Trusted Partners:

👀Learn How Dividends Create Passive Income for Life
Receive $200 Off Motley Fool Epic. The Motley Fool Epic $299 discounted offer is based on $499/year list price. Introductory promotion for new members only. Take control of your money and your portfolio with Motley Fool Epic.

💵New Income System Could Pay You $4,243 Monthly
You could collect an average of $4,243 per month starting as early as next week with a new payout system for income investors. New registrations are being accepted for investors who want to be in a position to start with their first payout next week.

🚀Easy 92% Crypto Dividends (No Coins Required)
COIN stock doesn't pay a dividend... But there's actually a new way to collect a massive dividend that's indirectly based on the stock and offers a terrific monthly income (currently yielding nearly 92% on a forward basis).

🤝Free Advisor Match with Wiseradvisor.com
Don't leave your retirement to chance! Get matched with a trusted financial expert for FREE and make the most of your tax refund. Get started now.

⚠️Dennis Quaid's #1 Warning for Americans
Here's the thing: life doesn't come with guarantees. The economy shifts, markets stumble, and years of hard work could slip through your fingers like sand. But it doesn't have to be that way for you. So request a free copy of this Gold & Silver Guide that will arrive right to your doorstep when you act now.

 

 
 

Follow us on X, Follow us on Twitter