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Upgrade Alert for Pharmacyclics (PCYC)

By James Quinn

Pharmacyclics (NASDAQ:PCYC) was upgraded from Market Perform to Outperform at Leerink today. The stock closed yesterday at $108.50 on volume of 1.4 million shares, above average daily volume of 990,000.

Pharmacyclics, Inc. is a pharmaceutical company developing products to improve upon current therapeutic approaches to cancer, atherosclerosis, and retinal disease. The Company's products are patented agents derived from its technology platform for designing and synthesizing energy-potentiating drugs.

Pharmacyclics (NASDAQ:PCYC) has potential upside of 36.9% based on a current price of $108.50 and analysts' consensus price target of $148.53. The stock should hit resistance at its 200-day moving average (MA) of $112.58, as well as support at its 50-day MA of $94.09.

In the past 52 weeks, shares of Pharmacyclics have traded between a low of $82.51 and a high of $154.89 and closed yesterday at $108.50, which is 31% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.3%.

SmarTrend recommended that subscribers consider buying shares of Pharmacyclics on July 7th, 2014 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $96.05. Since that recommendation, shares of Pharmacyclics have risen 13.0%. We continue to monitor PCYC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades pharmacyclics

Ticker(s): PCYC