In a welcome move, Amphastar Pharm saw its Relative Strength Rating improve from 70 to 73 on Tuesday.
IBD's proprietary rating measures price movement with a 1 (worst) to 99 (best) score. The rating shows how a stock's price performance over the last 52 weeks stacks up against all the other stocks in our database.
Decades of market research reveals that the best stocks often have an RS Rating north of 80 as they begin their largest price moves. See if Amphastar Pharm can continue to rebound and hit that benchmark.
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Amphastar Pharm is working on a double bottom with a 65.92 buy point. See if the stock can clear the breakout price in heavy trading. Keep in mind that it's a later-stage consolidation, and those entail more risk.
Earnings growth dropped in the most recent quarter from 68% to 45%. But revenue gains moved higher, from 23% to 25%. The next quarterly results are expected on or around Nov. 4.
Amphastar Pharm holds the No. 9 rank among its peers in the Medical-Biomed/Biotech industry group. ADMA Biologics, Catalyst Pharmaceuticals and United Therapeutics are among the top 5 highly rated stocks within the group.
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