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Shares of ABIOMED Has Risen Above Previous 52-Week High

By James Quinn

ABIOMED (NASDAQ:ABMD) traded today at a new 52-week high of $127.90. So far today approximately 66,000 shares have been exchanged, as compared to an average 30-day volume of 811,000 shares.

ABIOMED (NASDAQ:ABMD) defies analysts with a current price ($127.90) 19.7% above its average consensus price target of $102.70. The stock should discover initial support at its 50-day moving average (MA) of $92.74 and subsequent support at its 200-day MA of $88.63.

Abiomed, Inc. provides medical devices in circulatory support and continuum of care in heart recovery to acute heart failure patients. Its products consist of Impella 2.5 catheter, a percutaneous micro heart pump with integrated motor and sensors for use in interventional cardiology; and Impella 5.0 catheter and Impella LD, which are percutaneous micro heart pumps with integrated motors and sensors for use primarily in the heart surgery suite. The company also manufactures and sells the AB5000 circulatory support system and the BVS 5000 biventricular support system for temporary support of acute heart failure patients in profound shock, including patients suffering from cardiogenic shock after a heart attack, post-cardiotomy cardiogenic shock, or myocarditis. It sells its products through direct sales and clinical support personnel in the United States, Canada, Germany, France, the United Kingdom, and internationally. The company was founded in 1981 and is based in Danvers, Massachusetts.

ABIOMED share prices have moved between a 52-week high of $127.90 and a 52-week low of $59.04 and are now trading 117% above that low price at $127.90 per share. Over the past week, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 1.3%.

SmarTrend recommended that subscribers consider buying shares of ABIOMED on March 7th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $84.30. Since that recommendation, shares of ABIOMED have risen 50.3%. We continue to monitor ABMD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows abiomed

Ticker(s): ABMD