Axsome Therapeutics had its Relative Strength (RS) Rating upgraded from 89 to 92 Thursday.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. IBD's proprietary RS Rating identifies market leadership by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
Over 100 years of market history reveals that the top-performing stocks often have an RS Rating of at least 80 at the beginning of a new price run.
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Axsome Therapeutics stock is now considered extended and out of buy range. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line. Of course, with Uptrend Under Pressure, be careful out there.
Regarding top and bottom line numbers, Axsome Therapeutics has posted two quarters of rising earnings growth. Sales growth has been less impressive, coming in at 0% last quarter. Next earning report is scheduled for May 10.
The company earns the No. 107 rank among its peers in the Medical-Biomed/Biotech industry group. Pacira Pharmaceuticals, Amphastar Pharmaceutcls and Regeneron Pharmaceutical are among the top 5 highly rated stocks within the group.
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