On Thursday, Madrigal Pharmaceuticals hit a key technical benchmark, seeing its Relative Strength (RS) Rating jump into the 90-plus percentile with an improvement to 91, up from 86 the day before.
IBD's unique rating tracks share price movement with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the trailing 52 weeks stacks up against all the other stocks in our database.
History reveals that the top-performing stocks often have an RS Rating of at least 80 as they begin their biggest climbs.
How To Use Stock Charts To Stay Profitable And Protected
Madrigal Pharmaceuticals is building a consolidation with a 368.29 entry. See if the stock can clear the breakout price in volume at least 40% above average. It's a later-stage pattern, and investors should be aware that those involve more risk.
The company reported 0% EPS growth in the latest quarterly report, while sales growth came in at 0%. Look for the next report on or around Feb. 26.
Madrigal Pharmaceuticals holds the No. 142 rank among its peers in the Medical-Biomed/Biotech industry group. Catalyst Pharmaceuticals, Halozyme Therapeutics and Corcept Therapeutics are among the top 5 highly rated stocks within the group.
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