The Relative Strength (RS) Rating for Madrigal Pharmaceuticals climbed into a new percentile Friday, with a rise from 78 to 86.
When looking for the best stocks to buy and watch, be sure to pay attention to relative price strength.
IBD's proprietary rating tracks market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price performance over the trailing 52 weeks compares to all the other stocks in our database.
Over 100 years of market history reveals that the stocks that go on to make the biggest gains tend to have an 80 or higher RS Rating as they begin their biggest climbs.
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While it's not currently an ideal time to jump in, see if the stock is able to offer and clear a proper buy point. It still has a way to go to reach the 200 day moving average, for example. At the same time, it has had six up days in a row, with some volume.
MDGL Earnings
The company showed 0% earnings growth in the latest quarterly report. Revenue rose 0%. Biotech firms are notorious for poor earnings until their research pays off - or it doesn't.
Madrigal Pharmaceuticals earns the No. 179 rank among its peers in the Medical-Biomed/Biotech industry group. Neurocrine Biosciences and Immunogen are also among the group's highest-rated stocks.
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