The Relative Strength (RS) Rating for Incyte climbed into a new percentile Wednesday, with a rise from 63 to 84.
This proprietary rating measures market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the trailing 52 weeks matches up against other publicly traded companies.
Over 100 years of market history shows that the stocks that go on to make the biggest gains typically have an RS Rating of at least 80 in the early stages of their moves.
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Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock is able to establish and enter a buy zone in heavy trade.
Earnings growth slowed in the most recent quarter from 0% to -3%. But sales moved higher, from 9% to 24%.
The company holds the No. 75 rank among its peers in the Medical-Biomed/Biotech industry group. ADMA Biologics, Catalyst Pharmaceuticals and Harmony Biosciences are among the top 5 highly rated stocks within the group.
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