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Shares of Cambrex Rise Above Previous 52-Week High

By Nick Russo

Cambrex (NYSE:CBM) traded at a new 52-week high today of $58.44. Approximately 66,000 shares have changed hands today, as compared to an average 30-day volume of 455,000 shares.

Over the past year, Cambrex has traded in a range of $29.50 to $58.44 and is now at $57.52, 95% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.0% while the 200-day MA has remained constant.

Potential upside of 5.5% exists for Cambrex, based on a current level of $57.52 and analysts' average consensus price target of $60.67. The stock should find initial support at its 200-day moving average (MA) of $44.81 and further support at its 50-day MA of $43.32.

Cambrex Corporation supplies health, agriculture, and biotechnology products to the life sciences industries. The Company also produces specialty chemicals through its subsidiaries in the United States and Europe. Cambrex's products include cell culture and endotoxin detection products, pharmaceutical ingredients, and chemicals used in health, beauty, and food products.

SmarTrend recommended that subscribers consider buying shares of Cambrex on February 10th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $37.28. Since that recommendation, shares of Cambrex have risen 53.6%. We continue to monitor CBM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows cambrex

Ticker(s): CBM