One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Alkermes cleared that benchmark Wednesday, with a jump from 78 to 82 Wednesday.
IBD's unique rating measures share price action with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the last 52 weeks stacks up against all the other stocks in our database.
History reveals that the best stocks often have an RS Rating north of 80 in the early stages of their moves.
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Alkermes is building a cup with handle with a 32.25 entry. See if the stock can clear the breakout price in heavy trade.
Earnings growth declined in the most recent report from -8% to -16%. But sales moved higher, from -1% to 14%.
The company holds the No. 19 rank among its peers in the Medical-Biomed/Biotech industry group. Catalyst Pharmaceuticals, Halozyme Therapeutics and Corcept Therapeutics are among the top 5 highly rated stocks within the group.
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