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Rectangle Pattern Suggests a Momentous Move in BioMarin Pharmaceutical Stock Soon

Published 04/12/2021, 09:57 AM
Updated 04/12/2021, 10:00 AM
© Reuters.  Rectangle Pattern Suggests a Momentous Move in BioMarin Pharmaceutical Stock Soon

© Reuters. Rectangle Pattern Suggests a Momentous Move in BioMarin Pharmaceutical Stock Soon

A rectangle pattern has formed in the chart of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN). When this pattern is broken, a breakout or breakdown could soon occur. Read more to learn how to take advantage of this setup.Shares of BioMarin Pharmaceutical Inc. (BMRN) have been trending sideways and a rectangle pattern has emerged. When this pattern is broken, a breakout or breakdown is expected.

BioMarin Pharmaceutical focuses on treatments for serious life-threatening medical conditions. Some of the company’s treatments include Aldurazyme to treat mucopolysaccharidosis I and Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2.

The company is seeing strong demand for Vimizim, which is used to treat Morquio syndrome. One of its newer drugs, Palynziq, is seeing strong commercial uptake in the United States and its rare disease pipeline is growing, with a focus on gene therapy agents.

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