On Friday, CorMedix got a positive adjustment to its Relative Strength (RS) Rating, from 64 to 73.
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IBD's unique rating measures market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the last 52 weeks compares to all the other stocks in our database.
Decades of market research reveals that the stocks that go on to make the biggest gains typically have an RS Rating of over 80 in the early stages of their moves. See if CorMedix can continue to rebound and hit that benchmark.
CorMedix has climbed more than 5% past a 6.39 entry in a first-stage cup with handle, meaning it's now out of a proper buy range. Look for the stock to create a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
The company reported 0% EPS growth last quarter. Revenue gains came in at 4,806%.
The company holds the No. 81 rank among its peers in the Medical-Biomed/Biotech industry group. Aurinia Pharmaceuticals, Halozyme Therapeutics and Incyte 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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