Biomarin Pharmaceutical Stock Forecast - Double Exponential Smoothing

BMRN Stock  USD 88.61  0.87  0.99%   
The Double Exponential Smoothing forecasted value of Biomarin Pharmaceutical on the next trading day is expected to be 89.48 with a mean absolute deviation of  1.02  and the sum of the absolute errors of 61.01. Biomarin Stock Forecast is based on your current time horizon. Investors can use this forecasting interface to forecast Biomarin Pharmaceutical stock prices and determine the direction of Biomarin Pharmaceutical's future trends based on various well-known forecasting models. We recommend always using this module together with an analysis of Biomarin Pharmaceutical's historical fundamentals, such as revenue growth or operating cash flow patterns.
Check out Historical Fundamental Analysis of Biomarin Pharmaceutical to cross-verify your projections.
To learn how to invest in Biomarin Stock, please use our How to Invest in Biomarin Pharmaceutical guide.
  
Most investors in Biomarin Pharmaceutical cannot accurately predict what will happen the next trading day because, historically, stock markets tend to be unpredictable and even illogical. Modeling turbulent structures requires applying different statistical methods, techniques, and algorithms to find hidden data structures or patterns within the Biomarin Pharmaceutical's time series price data and predict how it will affect future prices. One of these methodologies is forecasting, which interprets Biomarin Pharmaceutical's price structures and extracts relationships that further increase the generated results' accuracy.
Double exponential smoothing - also known as Holt exponential smoothing is a refinement of the popular simple exponential smoothing model with an additional trending component. Double exponential smoothing model for Biomarin Pharmaceutical works best with periods where there are trends or seasonality.

Biomarin Pharmaceutical Double Exponential Smoothing Price Forecast For the 29th of March

Given 90 days horizon, the Double Exponential Smoothing forecasted value of Biomarin Pharmaceutical on the next trading day is expected to be 89.48 with a mean absolute deviation of 1.02, mean absolute percentage error of 1.78, and the sum of the absolute errors of 61.01.
Please note that although there have been many attempts to predict Biomarin Stock prices using its time series forecasting, we generally do not recommend using it to place bets in the real market. The most commonly used models for forecasting predictions are the autoregressive models, which specify that Biomarin Pharmaceutical's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).

Biomarin Pharmaceutical Stock Forecast Pattern

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Biomarin Pharmaceutical Forecasted Value

In the context of forecasting Biomarin Pharmaceutical's Stock value on the next trading day, we examine the predictive performance of the model to find good statistically significant boundaries of downside and upside scenarios. Biomarin Pharmaceutical's downside and upside margins for the forecasting period are 88.14 and 90.83, respectively. We have considered Biomarin Pharmaceutical's daily market price to evaluate the above model's predictive performance. Remember, however, there is no scientific proof or empirical evidence that traditional linear or nonlinear forecasting models outperform artificial intelligence and frequency domain models to provide accurate forecasts consistently.
Market Value
88.61
89.48
Expected Value
90.83
Upside

Model Predictive Factors

The below table displays some essential indicators generated by the model showing the Double Exponential Smoothing forecasting method's relative quality and the estimations of the prediction error of Biomarin Pharmaceutical stock data series using in forecasting. Note that when a statistical model is used to represent Biomarin Pharmaceutical stock, the representation will rarely be exact; so some information will be lost using the model to explain the process. AIC estimates the relative amount of information lost by a given model: the less information a model loses, the higher its quality.
AICAkaike Information CriteriaHuge
BiasArithmetic mean of the errors 0.0803
MADMean absolute deviation1.0168
MAPEMean absolute percentage error0.0113
SAESum of the absolute errors61.0104
When Biomarin Pharmaceutical prices exhibit either an increasing or decreasing trend over time, simple exponential smoothing forecasts tend to lag behind observations. Double exponential smoothing is designed to address this type of data series by taking into account any Biomarin Pharmaceutical trend in the prices. So in double exponential smoothing past observations are given exponentially smaller weights as the observations get older. In other words, recent Biomarin Pharmaceutical observations are given relatively more weight in forecasting than the older observations.

Predictive Modules for Biomarin Pharmaceutical

There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Biomarin Pharmaceutical. Regardless of method or technology, however, to accurately forecast the stock market is more a matter of luck rather than a particular technique. Nevertheless, trying to predict the stock market accurately is still an essential part of the overall investment decision process. Using different forecasting techniques and comparing the results might improve your chances of accuracy even though unexpected events may often change the market sentiment and impact your forecasting results.
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Biomarin Pharmaceutical's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Hype
Prediction
LowEstimatedHigh
87.2188.5589.89
Details
Intrinsic
Valuation
LowRealHigh
76.9578.2997.47
Details
Bollinger
Band Projection (param)
LowMiddleHigh
85.9187.6289.34
Details
Please note, it is not enough to conduct a financial or market analysis of a single entity such as Biomarin Pharmaceutical. Your research has to be compared to or analyzed against Biomarin Pharmaceutical's peers to derive any actionable benefits. When done correctly, Biomarin Pharmaceutical's competitive analysis will give you plenty of quantitative and qualitative data to validate your investment decisions or develop an entirely new strategy toward taking a position in Biomarin Pharmaceutical.

Other Forecasting Options for Biomarin Pharmaceutical

For every potential investor in Biomarin, whether a beginner or expert, Biomarin Pharmaceutical's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Biomarin Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Biomarin. Basic forecasting techniques help filter out the noise by identifying Biomarin Pharmaceutical's price trends.

Biomarin Pharmaceutical Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Biomarin Pharmaceutical stock to make a market-neutral strategy. Peer analysis of Biomarin Pharmaceutical could also be used in its relative valuation, which is a method of valuing Biomarin Pharmaceutical by comparing valuation metrics with similar companies.
 Risk & Return  Correlation

Biomarin Pharmaceutical Technical and Predictive Analytics

The stock market is financially volatile. Despite the volatility, there exist limitless possibilities of gaining profits and building passive income portfolios. With the complexity of Biomarin Pharmaceutical's price movements, a comprehensive understanding of forecasting methods that an investor can rely on to make the right move is invaluable. These methods predict trends that assist an investor in predicting the movement of Biomarin Pharmaceutical's current price.

Biomarin Pharmaceutical Market Strength Events

Market strength indicators help investors to evaluate how Biomarin Pharmaceutical stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Biomarin Pharmaceutical shares will generate the highest return on investment. By undertsting and applying Biomarin Pharmaceutical stock market strength indicators, traders can identify Biomarin Pharmaceutical entry and exit signals to maximize returns.

Biomarin Pharmaceutical Risk Indicators

The analysis of Biomarin Pharmaceutical's basic risk indicators is one of the essential steps in accurately forecasting its future price. The process involves identifying the amount of risk involved in Biomarin Pharmaceutical's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting biomarin stock prices, we also provide a set of basic risk indicators that can assist in the individual investment decision or help in hedging the risk of your existing portfolios.
Please note, the risk measures we provide can be used independently or collectively to perform a risk assessment. When comparing two potential investments, we recommend comparing similar equities with homogenous growth potential and valuation from related markets to determine which investment holds the most risk.
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Biomarin Pharmaceutical in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Biomarin Pharmaceutical's short interest history, or implied volatility extrapolated from Biomarin Pharmaceutical options trading.

Pair Trading with Biomarin Pharmaceutical

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Biomarin Pharmaceutical position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Biomarin Pharmaceutical will appreciate offsetting losses from the drop in the long position's value.

Moving together with Biomarin Stock

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Moving against Biomarin Stock

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The ability to find closely correlated positions to Biomarin Pharmaceutical could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Biomarin Pharmaceutical when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Biomarin Pharmaceutical - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Biomarin Pharmaceutical to buy it.
The correlation of Biomarin Pharmaceutical is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Biomarin Pharmaceutical moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Biomarin Pharmaceutical moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Biomarin Pharmaceutical can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.
Pair CorrelationCorrelation Matching
When determining whether Biomarin Pharmaceutical offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Biomarin Pharmaceutical's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Biomarin Pharmaceutical Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Biomarin Pharmaceutical Stock:
Check out Historical Fundamental Analysis of Biomarin Pharmaceutical to cross-verify your projections.
To learn how to invest in Biomarin Stock, please use our How to Invest in Biomarin Pharmaceutical guide.
You can also try the Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.

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Is Biomarin Pharmaceutical's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Biomarin Pharmaceutical. If investors know Biomarin will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Biomarin Pharmaceutical listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
The market value of Biomarin Pharmaceutical is measured differently than its book value, which is the value of Biomarin that is recorded on the company's balance sheet. Investors also form their own opinion of Biomarin Pharmaceutical's value that differs from its market value or its book value, called intrinsic value, which is Biomarin Pharmaceutical's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Biomarin Pharmaceutical's market value can be influenced by many factors that don't directly affect Biomarin Pharmaceutical's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Biomarin Pharmaceutical's value and its price as these two are different measures arrived at by different means. Investors typically determine if Biomarin Pharmaceutical is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Biomarin Pharmaceutical's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.