BioMarin Pharmaceutical stock had its Relative Strength (RS) Rating upgraded from 69 to 74 Tuesday -- a welcome improvement, but still short of the 80 or higher score you look for.
When looking for the best stocks to buy and watch, keep a close on eye on relative price strength.
IBD's unique RS Rating tracks market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the trailing 52 weeks matched up against all other stocks.
History reveals that the best stocks tend to have an 80 or better RS Rating as they launch their largest price moves. See if BioMarin Pharmaceutical stock can continue to show renewed price strength and clear that threshold.
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Is BioMarin Pharmaceutical Stock A Buy?
BioMarin Pharmaceutical stock dipped below its 200-day moving average a few weeks ago. While now is not an ideal time to invest during a stock market correction, see if the stock is able to offer and clear an appropriate buy point. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
Regarding top and bottom line numbers, the company has posted four quarters of accelerating earnings growth. Sales gains have been a different story, coming in at 0% in the latest report.
BioMarin Pharmaceutical stock holds the No. 6 rank among its peers in the Medical-Biomed/Biotech industry group. Amphastar Pharm and Vertex Pharmaceuticals are also among the group's highest-rated stocks. For more industry news, check out "Biotech And Pharmaceutical Industry And Stock News."
