On Wednesday, Ionis Pharmaceuticals earned a positive adjustment to its Relative Strength (RS) Rating, from 75 to 84.
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IBD's proprietary RS Rating measures technical performance by showing how a stock's price movement over the last 52 weeks measures up against that of other stocks on the major indexes.
Over 100 years of market history shows that the best stocks typically have an RS Rating of over 80 as they launch their biggest price moves.
While the stock is not near an ideal entry right now, see if it is able to form and break out from a proper consolidation.
Ionis Pharmaceuticals reported 0% EPS growth in its most recent report. Sales gains came in at 11%. The company is expected to report its latest performance numbers on or around Jul. 31.
The company earns the No. 124 rank among its peers in the Medical-Biomed/Biotech industry group. Exelixis, TG Therapeutics and ACADIA 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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