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Shares of Biomarin Pharmac Has Risen Above Previous 52-Week High

By Nick Russo

Shares of Biomarin Pharmac (NASDAQ:BMRN) traded today at $101.73, breaking its 52-week high. So far today approximately 166,000 shares have been exchanged, as compared to an average 30-day volume of 1.3 million shares.

In the past 52 weeks, shares of Biomarin Pharmac have traded between a low of $75.81 and a high of $101.73 and are now at $101.54, which is 34% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.1%.

There is potential upside of 9.8% for shares of Biomarin Pharmac based on a current price of $101.54 and an average consensus analyst price target of $111.48. The stock should find initial support at its 50-day moving average (MA) of $91.58 and further support at its 200-day MA of $87.33.

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.

SmarTrend is monitoring the recent change of momentum in Biomarin Pharmac. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Biomarin Pharmac in search of a potential trend change.

Keywords: 52 week high/lows biomarin pharmac

Ticker(s): BMRN