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Buyers Accumulate Shares of BioMarin Pharmaceutical, Up 3.4%

Published on Mon, 04/29/2013 - 12:17
By Adrienne Chilton

One of today's stocks on the move is BioMarin Pharmaceutical (NASDAQ:BMRN), up 3.4% to $65.32. The S&P is trading higher by 0.8% to 1,595 and the Dow is trading 0.7% higher to 14,814.

Over the past year, BioMarin Pharmaceutical has traded in a range of $34.30 to $66.63 and is now at $65.32, 90% above that low. Over the past week, the 200-day moving average (MA) has gone up 1.2% while the 50-day MA has advanced 1.5%.

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.

BioMarin Pharmaceutical (NASDAQ:BMRN) is currently priced 3.3% above its average consensus analyst price target of $63.13. The stock should find initial support at its 50-day moving average (MA) of $60.86 and further support at its 200-day MA of $48.77.

By Adrienne Chilton
achilton@fnno.com