CorMedix had its Relative Strength (RS) Rating upgraded from 88 to 92 Wednesday.
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This exclusive rating from Investor's Business Daily identifies price performance with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the last 52 weeks holds up against all the other stocks in our database.
Decades of market research reveals that the stocks that go on to make the biggest gains tend to have an 80 or higher RS Rating at the beginning of a new price run.
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 posted 0% earnings growth last quarter, while sales growth came in at 4,806%.
The company holds the No. 32 rank among its peers in the Medical-Biomed/Biotech industry group. Aurinia Pharmaceuticals, Halozyme Therapeutics and Rigel Pharmaceuticals 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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