In a welcome move, Denali Therapeutics stock saw its Relative Strength Rating improve from 69 to 76 on Tuesday.
IBD's proprietary RS Rating measures market leadership by showing how a stock's price action over the last 52 weeks compares to that of the other stocks in our database.
Decades of market research reveals that the market's biggest winners typically have an RS Rating north of 80 as they launch their largest climbs. See if Denali Therapeutics stock can continue to show renewed price strength and clear that threshold.
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Is Denali Therapeutics Stock A Buy?
Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the biotech stock manages to offer and clear an appropriate buy point.
The biotech company posted 0% EPS growth last quarter, while sales growth came in at -100%. The next quarterly numbers are expected on or around Aug. 6.
Denali Therapeutics stock holds the No. 108 rank among its peers in the Medical-Biomed/Biotech industry group. ADMA Biologics, Halozyme Therapeutics and United Therapeutics are among the top 5 highly rated stocks within the group. For more industry news, check out "Biotech And Pharmaceutical Industry And Stock News."
