On Thursday, Arcutis Biotherapeutics reached an important technical benchmark, with its Relative Strength (RS) Rating moving into the 90-plus percentile with an improvement to 93, a rise from 89 the day before.
This unique rating tracks technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the last 52 weeks matches up against other publicly traded companies.
Decades of market research reveals that the best stocks often have an RS Rating of above 80 at the beginning of a new price run.
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While the stock is not near an ideal buy point right now, see if it manages to form and break out of a proper consolidation.
The company reported 0% earnings growth in its most recent report, while sales growth came in at 17%. The next quarterly results are expected on or around Feb. 25.
The company holds the No. 34 rank among its peers in the Medical-Biomed/Biotech industry group. Catalyst Pharmaceuticals, Halozyme Therapeutics and United Therapeutics are among the top 5 highly rated stocks within the group.
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