When considering what names to put on your watch list, look for stocks with an 80 or higher RS Rating. Jazz Pharmaceuticals now meets that criteria, with an increase from 78 to 81 Wednesday.
IBD's proprietary rating identifies market leadership with a 1 (worst) to 99 (best) score. The score 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 shows 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.
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Jazz Pharmaceuticals is now considered extended and out of buy range after clearing a 128.99 buy point in a first-stage flat base. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
In terms of fundamentals, Jazz Pharmaceuticals has posted two quarters of rising earnings growth. Revenue growth has also increased over the same time frame. Jazz Pharmaceuticals is expected to report its next quarterly numbers on or around Feb. 25.
Jazz Pharmaceuticals earns the No. 2 rank among its peers in the Medical-Ethical Drugs industry group. Phibro Animal Health is the No. 1-ranked stock within the group.
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