On Thursday, Rhythm Pharmaceuticals received an upgrade to its Relative Strength (RS) Rating, from 80 to 95.
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This unique rating tracks market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the trailing 52 weeks matches up against other publicly traded companies.
Over 100 years of market history shows that the best-performing stocks tend to have an 80 or higher RS Rating at the beginning of a new run.
The IBD 50 stock has risen more than 5% past a 68.58 entry in a first-stage consolidation, meaning it's now out of a proper buy range. Look for the stock to offer a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
Rhythm Pharmaceuticals posted 0% earnings growth last quarter. Revenue increased 26%. The company is expected to report its latest performance numbers on or around Aug. 5.
The company holds the No. 31 rank among its peers in the Medical-Biomed/Biotech industry group. Exelixis, TG Therapeutics and Inhibrx Biosciences 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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