BioMarin Pharmaceutical Inc. (BMRN - Free Report) was a big mover last session, as the company saw its shares rise nearly 6% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, which remained volatile and traded within the range of $80.60 –$89.70 in the past one-month time frame, witnessed a sharp increase yesterday.
The stock gained after the company reported that its Pegvaliase Biologics License Application (BLA) received FDA approval.
The company has seen eight positive estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved higher over the past few weeks, suggesting that more solid trading could be ahead for BioMarin. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.
BioMarin currently has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.
A better-ranked stock in the Medical - Biomedical and Genetics industry is Akari Therapeutics PLC (AKTX - Free Report) , which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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