On Thursday, Alkermes received an upgrade to its Relative Strength (RS) Rating, from 70 to 73.
IBD's proprietary rating identifies market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the trailing 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history shows that the stocks that go on to make the biggest gains often have an RS Rating of over 80 in the early stages of their moves. See if Alkermes can continue to show renewed price strength and hit that benchmark.
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Alkermes is trading within a buy zone after climbing above a 30.30 entry in a cup with handle. Once a stock moves 5% or higher beyond the original entry, it's considered out of buy range.
While earnings growth dropped last quarter from -8% to -16%, revenue grew -1%, up from -35% in the previous report.
The company earns the No. 23 rank among its peers in the Medical-Biomed/Biotech industry group. Catalyst Pharmaceuticals, ADMA Biologics and Corcept Therapeutics are among the top 5 highly rated stocks within the group.
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