The Relative Strength (RS) Rating for Halozyme Therapeutics climbed into a new percentile Thursday, with an increase from 77 to 84.
When looking for the best stocks to buy and watch, keep a close on eye on relative price strength.
This exclusive rating from Investor's Business Daily measures share price movement with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the last 52 weeks holds up against all the other stocks in our database.
History shows that the best stocks often have an 80 or better RS Rating in the early stages of their moves.
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Halozyme Therapeutics is within a buying range after breaking past a 19.83 entry in a cup without handle. The proper buying range extends to 5% above the initial entry. Once a stock moves above that range, it's best to wait for it to set up another buying opportunity.
Top and bottom line growth moved higher in the company's most recent quarter. Earnings were up 10%, compared to 0% in the prior report. Revenue increased from 11% to 81%. The next quarterly numbers are expected on or around Feb. 21.
The company earns the No. 43 rank among its peers in the Medical-Biomed/Biotech industry group. Biospecifics Technologies, Regeneron Pharmaceutical and Vertex Pharmaceuticals are among the top 5 highly rated stocks within the group.
