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Watch for Continued Losses in Shares of Biomarin Pharmac (BMRN)

By Amy Schwartz

Biomarin Pharmac (NASDAQ:BMRN) traded today at a new 52-week low of $71.32. So far today approximately 97,000 shares have been exchanged, as compared to an average 30-day volume of 1.2 million shares.

Biomarin Pharmac (NASDAQ:BMRN) has potential upside of 56.3% based on a current price of $71.32 and analysts' consensus price target of $111.48. The stock should find initial resistance at its 50-day moving average (MA) of $78.76 and further resistance at its 200-day MA of $86.83.

BioMarin Pharmaceutical, Inc., a biotechnology company, develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions

Biomarin Pharmac share prices have moved between a 52-week high of $106.74 and the current low of $71.32 and are currently at $71.32 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.2% while the 200-day MA has slid 0.5%.

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