On Wednesday, Ionis Pharmaceuticals earned an upgrade to its Relative Strength (RS) Rating, from 81 to 94.
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IBD's proprietary rating tracks price movement with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the trailing 52 weeks holds up against all the other stocks in our database.
Decades of market research shows that the best stocks often have an RS Rating north of 80 in the early stages of their moves.
Ionis Pharmaceuticals is now considered extended and out of buy range after clearing a 48.61 buy point in a second-stage cup with handle. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
Ionis Pharmaceuticals reported 0% earnings growth in the latest quarterly report, while sales growth came in at 101%.
The company earns the No. 35 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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