Edgewise Therapeutics had its Relative Strength (RS) Rating upgraded from 88 to 92 Thursday.
This proprietary rating measures market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the last 52 weeks matches up against the rest of the market.
Decades of market research shows that the top-performing stocks often have an 80 or better RS Rating in the early stages of their moves.
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Edgewise Therapeutics has risen more than 5% past a 23.50 entry in a first-stage consolidation, meaning it's now out of a proper buy range. Look for the stock to create a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week line.
Edgewise Therapeutics reported 0% earnings growth in the latest quarterly report, while sales growth came in at 0%.
The company holds the No. 98 rank among its peers in the Medical-Biomed/Biotech industry group. Catalyst Pharmaceuticals, Exelixis and Halozyme Therapeutics are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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