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Hovering Above 50-Day Average After Another Strong Earnings Report - Wednesday, August 5, 2020
Biomarin Pharmaceutical (BMRN +0.00% at $119.83) was unchanged today as it held its ground and traded slightly below average volume, a quiet session considering that after Tuesday's session it reported Jun '20 quarterly earnings +220% on +11% sales revenues versus the year ago period. Volume and volatility often increases near earnings news. It is consolidating near its 50-day moving average (DMA) line ($118.77) which defines important near-term support to watch.BMRN was highlighted in the 6/17/20 mid-day report in yellow with pivot point cited based on its 6/04/20 high after forming an advanced "3-weeks tight" base pattern (read here). It was last shown in this FSU section on 7/10/20 with an annotated graph under the headline "Hovering Near High With Volume Totals Cooling".
It has an Earnings Per Share Rating that is 99, the highest possible rank. It reported strong earnings up +343% on +25% sales revenues for the Mar '20 quarter versus the year ago period and recent quarterly comparisons showed solidly improved earnings increases with strong underlying sales revenues growth. Since turning profitable in FY '17 its annual earnings (A criteria) history has been strong.
The company hails from the Medical - Biomed/Biotech industry group which is currently ranked 35th of the 197 Industry Groups ( L criteria). It has a Timeliness Rating of A and a Sponsorship rating of B. The number of top-rated funds owning its shares rose from 1,086 in Jun '19 to 1,243 in Jun '20, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.7 is an unbiased indication its shares have been under accumulation over the past 50 days. It has 180.8 million shares outstanding (S criteria).
Charts courtesy of www.stockcharts.com
Hovering Near High With Volume Totals Cooling - Friday, July 10, 2020
Biomarin Pharmaceutical (BMRN -$0.75 or -0.59% to $126.06) is hovering near its all-time high with volume totals cooling after a streak of 5 consecutive gains. It is very extended from any sound base. It stubbornly held its ground after a streak of gains for new highs marked by heavy volume. The prior high ($112.57) defines initial support to watch above its 50-day moving average (DMA) line ($107.92) on pullbacks.BMRN was highlighted in the 6/17/20 mid-day report in yellow with pivot point cited based on its 6/04/20 high after forming an advanced "3-weeks tight" base pattern (read here). It was last shown in this FSU section on 6/17/20 with an annotated graph under the headline "Hit New 52-Week High But Closed Below Pivot After 3-Weeks Tight". At the time it hit a new 52-week high with a 4th consecutive gain backed by +55% above average volume, however it retreated and finished the session below the pivot point. Subsequent gains above the pivot point backed by well above average volume helped clinch a convincing technical buy signal.
It has an Earnings Per Share Rating that is 99, the highest possible rank. It reported strong earnings up +343% on +25% sales revenues for the Mar '20 quarter versus the year ago period and recent quarterly comparisons showed solidly improved earnings increases with strong underlying sales revenues growth. Since turning profitable in FY '17 its annual earnings (A criteria) history has been strong.
The company hails from the Medical - Biomed/Biotech industry group which is currently ranked 12th of the 197 Industry Groups ( L criteria). It has a Timeliness Rating of A and a Sponsorship rating of B. The number of top-rated funds owning its shares rose from 1,086 in Jun '19 to 1,174 in Jun '20, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.8 is an unbiased indication its shares have been under accumulation over the past 50 days. It has 180.8 million shares outstanding (S criteria).
Charts courtesy of www.stockcharts.com
Hit New 52-Week High But Closed Below Pivot After 3-Weeks Tight - Wednesday, June 17, 2020
Biomarin Pharmaceutical (BMRN +$4.85 or +4.56% to $111.32) was highlighted in yellow with pivot point cited based on its 6/04/20 high after forming an advanced "3-weeks tight" base pattern (read here). It hit a new 52-week high with today's 4th consecutive gain backed by +55% above average volume, however it retreated and finished the session bellow the pivot point. Subsequent gains above the pivot point backed by at least +40% above average volume may help clinch a convincing technical buy signal.It has an Earnings Per Share Rating that is 99, the highest possible rank. It reported strong earnings up +343% on +25% sales revenues for the Mar '20 quarter versus the year ago period and recent quarterly comparisons showed solidly improved earnings increases with strong underlying sales revenues growth. Since turning profitable in FY '17 its annual earnings (A criteria) history has been strong.
The company hails from the Medical - Biomed/Biotech industry group which is currently ranked 6th of the 197 Industry Groups ( L criteria). It has a Timeliness Rating of A and a Sponsorship rating of B. The number of top-rated funds owning its shares rose from 1,086 in Jun '19 to 1,123 in Mar '20, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.6 is an unbiased indication its shares have been under accumulation over the past 50 days. It has 180.8 million shares outstanding (S criteria).
Charts courtesy of www.stockcharts.com
