Innoviva had its Relative Strength (RS) Rating upgraded from 69 to 74 Wednesday — a welcome improvement, but still shy of the 80 or better score you prefer to see.
Can You Really Time The Stock Market?
This proprietary rating measures market leadership by showing how a stock's price movement over the last 52 weeks measures up against that of the other stocks in our database.
History reveals that the market's biggest winners often have an RS Rating of above 80 in the early stages of their moves. See if Innoviva can continue to rebound and hit that benchmark.
Innoviva is working on a consolidation with a 21.28 buy point. See if the stock can break out in heavy volume.
While sales growth fell last quarter from 33% to 7%, the bottom line grew -66%, up from -98% in the prior report. Keep an eye out for the company's next round of numbers on or around Apr. 30.
Innoviva earns the No. 89 rank among its peers in the Medical-Biomed/Biotech industry group. ADMA Biologics, Catalyst Pharmaceuticals and Exelixis 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.
RELATED:
Biotech And Pharmaceutical Industry And Stock News
IBD Stock Rating Upgrades: Rising Relative Strength
Why Should You Use IBD's Relative Strength Rating?
How Relative Strength Line Can Help You Judge A Stock
Ready To Grow Your Investing Skills? Join An IBD Meetup Group!
