Exelixis saw a welcome improvement to its Relative Strength (RS) Rating on Tuesday, with an increase from 66 to 81. Mostly related to the yesterday's gap up and today's continued move up. According to an article on Motley Fool, the rise is attributed to a stock buy-back.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary RS Rating tracks market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the last 52 weeks matches up against that of all other stocks.
Decades of market research shows that the best stocks often have an RS Rating of over 80 as they begin their biggest price moves.
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While it's not currently an ideal time to buy shares, see if the stock goes on to form a chart pattern and break out. Another key to point out would be the stock clearing the 200 day moving average. The stock is worth placing on a watchlist.
Earnings Update
Exelixis reported 0% EPS growth in the latest quarterly report. Sales gains came in at 0%.
Exelixis earns the No. 54 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.
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