Axsome Therapeutics had its Relative Strength (RS) Rating upgraded from 79 to 92 Thursday before the open.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. This unique rating identifies market leadership by showing how a stock's price action over the last 52 weeks compares to that of the other stocks in our database.
History reveals that the top-performing stocks often have an RS Rating north of 80 in the early stages of their moves.
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Axsome Therapeutics recently gapped up and has continued a positive uptrend, meaning it's now out of a proper buy zone. Look for the stock to create a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week moving average. Definitely watchlist-worthy.
The company posted -32% earnings growth last quarter, while sales growth came in at 0%.
The company earns the No. 109 rank among its peers in the Medical-Biomed/Biotech industry group. Amphastar Pharmaceutcls, Alkermes and Corcept Therapeutics are among the top 5 highly rated stocks within the group.
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