Recent 52-Week High Exceeded in Shares of BioMarin Pharmaceutical (BMRN)
BioMarin Pharmaceutical (NASDAQ:BMRN) traded at a new 52-week high today of $72.00. Approximately 840,000 shares have changed hands today, as compared to an average 30-day volume of 861,000 shares.
BioMarin Pharmaceutical Inc. develops and commercializes therapeutic enzyme products. The Company has applied its proprietary enzyme technology to develop products for lysosomal storage diseases and for the treatment of serious burns. BioMarin's subsidiary provides analytical and diagnostic products and services in the area of carbohydrate biology.
Over the past year, BioMarin Pharmaceutical has traded in a range of $36.28 to $72.00 and is now at $71.87, 98% above that low. The 200-day and 50-day moving averages have moved 0.55% higher and 1.35% higher over the past week, respectively.
BioMarin Pharmaceutical (NASDAQ:BMRN) is currently priced 1.2% above its average consensus analyst price target of $71.04. BioMarin Pharmaceutical shares have support at the 50-day moving average (MA) of $63.27 and additional support at the 200-day MA of $58.97.
SmarTrend recommended that subscribers consider buying shares of BioMarin Pharmaceutical on July 11th, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $60.45. Since that recommendation, shares of BioMarin Pharmaceutical have risen 17.1%. We continue to monitor BMRN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: 52 week high/lows biomarin pharmaceutical