Kala Pharmaceuticals stock had its Relative Strength (RS) Rating upgraded from 67 to 83 Friday.
When you're researching the best stocks to buy and watch, be sure to pay attention to relative price strength.
IBD's unique rating tracks price performance with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the trailing 52 weeks holds 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 typically have an RS Rating north of 80 as they begin their biggest price moves.
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Is Kala Pharmaceuticals Stock A Buy?
Kala Pharmaceuticals stock shot up more than 50% on Friday on positive Q4 and full year 2022 earnings results. The biotech stock is extended and is now out of a proper buy zone. Look for the stock to offer a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
The biotech firm showed 0% earnings growth last quarter. Sales increased -86%.
Kala Pharmaceuticals stock holds the No. 284 rank among its peers in the Medical-Biomed/Biotech industry group. Amphastar Pharm and BioMarin Pharmaceutical are also among the group's highest-rated stocks. For more industry news, check out "Biotech And Pharmaceutical Industry And Stock News."
