On Friday, Ascendis Pharma ADR got an upgrade to its Relative Strength (RS) Rating, from 89 to 92.
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IBD's unique RS Rating measures market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the trailing 52 weeks matches up against the rest of the market.
History reveals that the stocks that go on to make the biggest gains tend to have an 80 or higher RS Rating in the early stages of their moves.
Ascendis Pharma ADR broke out earlier, but has fallen back below the prior 180.78 entry from a flat base. If a stock you're tracking clears a buy point then retreats 7% or more below the original entry price, it's considered a failed base. Wait for the stock to set up and breakout from a new base and buy point. Also understand that the latest pattern is a later-stage base, and those involve more risk.
Ascendis Pharma ADR posted 0% earnings growth last quarter, while sales growth came in at 383%.
Ascendis Pharma ADR earns the No. 33 rank among its peers in the Medical-Biomed/Biotech industry group. Aurinia Pharmaceuticals, Rigel Pharmaceuticals and Halozyme Therapeutics 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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