Gene therapy company Uniqure is showing unusual strength and riding the rising tide for medical stocks. The gains come despite the continued downturn in the overall stock market. On Monday, the Relative Strength (RS) Rating for Uniqure N.V. climbed to 92, putting it 11 points above the prior day's 81 rating. The 92 rating ranks Uniqure stock among the top 8% of all stocks for price performance.
Market research shows that the biggest stock winners typically have an 80 or higher RS Rating as they begin their largest price moves. Uniqure stock crashed through that barrier, making it one of the best stocks to add to a watchlist.
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Unique Stock Earns High Marks
Uniqure's gene therapy targets severe genetic diseases of the central nervous system and liver, including hemophilia and Huntington's disease, among others.
Among its other key ratings, Amsterdam-based Uniqure stock also has a 92 Composite Rating.
The Composite Rating combines five separate proprietary IBD ratings, based on key fundamental and technical criteria, into one easy-to-use score. The best growth stocks have a Composite Rating of 90 or better. It has a weak 42 EPS Rating, though its profit growth has picked up in the last couple of quarters. Offsetting that is its outstanding A Accumulation/Distribution Rating on an A+ to E scale. The A rating shows that institutional investors such as mutual funds and ETFs are heavy buyers of its stock.
Uniqure stock has risen about 70% from a May 10 low of 13.11 to a 22.16 close Monday, down 2.68% for the day. Uniqure isn't near a proper buy point right now. See if it goes on to form and break out of a proper consolidation.
Earnings growth declined last quarter from 0% to -9%, but revenue growth soared from 69% a quarter earlier to 298%. The company is expected to report its latest earnings and sales numbers on or around July 26.
Uniqure stock holds the No. 27 rank among its peers in the Medical-Biomed/Biotech industry group. Amphastar Pharmaceuticals, Corcept Therapeutics and Dynavax Technologies are among the top 5 highly rated stocks in the group.
When looking for stocks for a watchlist or to buy, one factor to watch closely is relative price strength. IBD's proprietary RS Rating measures market leadership by showing how a stock's price movement over the last 52 weeks measures up against that of the other stocks in our database.
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