On Friday, Incyte earned a positive adjustment to its Relative Strength (RS) Rating, from 70 to 79.
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This unique rating tracks market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the trailing 52 weeks compares to the rest of the market.
Decades of market research reveals that the top-performing stocks tend to have an RS Rating north of 80 as they begin their biggest runs. See if Incyte can continue to rebound and clear that threshold.
Is Incyte Stock A Buy?
Incyte stock reclaimed its 200-day moving average in early June and has been trading tightly above that line. While now is not an ideal time to jump in, see if the biotech stock goes on to form a chart pattern and break out.
The biotech firm saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 35% to 100%. Revenue rose from 16% to 20%.
Incyte stock earns the No. 3 rank among its peers in the Medical-Biomed/Biotech industry group. Exelixis is the top-ranked stock within the group. For more industry news, check out "Biotech And Pharmaceutical Industry And Stock News."
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.
