Avadel Pharmaceuticals saw a welcome improvement to its Relative Strength (RS) Rating on Wednesday, rising from 78 to 87.
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This unique rating measures market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the trailing 52 weeks matches up against that of all other stocks.
Over 100 years of market history reveals that the stocks that go on to make the biggest gains often have an 80 or higher RS Rating as they begin their biggest runs.
While the stock is not near a proper buy point right now, see if it is able to form and break out from a proper base.
The company showed 0% EPS growth in its most recent report, while sales growth came in at 64%.
The company holds the No. 16 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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