In a welcome move, Amphastar Pharm saw its Relative Strength Rating rise from 67 to 73 on Friday.
IBD's unique RS Rating identifies market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the last 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history reveals that the stocks that go on to make the biggest gains tend to have an RS Rating of above 80 in the early stages of their moves. See if Amphastar Pharm can continue to show renewed price strength and hit that benchmark.
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Amphastar Pharm is trying to complete a double bottom with a 65.92 buy point. See if it can break out in heavy trade. Keep in mind that it's a later-stage consolidation, and those are riskier than earlier-stage patterns.
Earnings growth decreased last quarter from 68% to 45%. But revenue moved higher, from 23% to 25%. Keep an eye out for the company's next round of numbers on or around Nov. 6.
The company earns the No. 8 rank among its peers in the Medical-Biomed/Biotech industry group. ADMA Biologics, Exelixis and Catalyst Pharmaceuticals are among the top 5 highly rated stocks within the group.
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