Alkermes saw a welcome improvement to its Relative Strength (RS) Rating on Wednesday, rising from 63 to 77.
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This proprietary rating tracks technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the last 52 weeks stacks up against all the other stocks in our database.
History shows that the stocks that go on to make the biggest gains typically have an RS Rating of at least 80 as they launch their biggest climbs. See if Alkermes can continue to show renewed price strength and clear that threshold.
While the stock is not near a proper buy point right now, see if it is able to form and break out of a proper chart pattern.
Earnings grew 117% last quarter, up from -16% in the prior report. Revenue also increased, from -1% to 14%. The next quarterly results are expected on or around May 1.
The company holds the No. 13 rank among its peers in the Medical-Biomed/Biotech industry group. ADMA Biologics, Catalyst Pharmaceuticals and Exelixis are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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