On Monday, Biohaven received an upgrade to its Relative Strength (RS) Rating, from 70 to 73.
IBD's unique RS Rating tracks technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the last 52 weeks compares to the rest of the market.
History shows that the market's biggest winners typically have an 80 or higher RS Rating in the early stages of their moves. See if Biohaven can continue to rebound and clear that threshold.
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Biohaven is now considered extended and out of buy range after clearing a 26.64 buy point in a first-stage cup without handle. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
Biohaven posted 0% EPS growth in the latest quarterly report, while sales growth came in at 0%.
The company holds the No. 263 rank among its peers in the Medical-Biomed/Biotech industry group. ADMA Biologics, Halozyme Therapeutics and Sarepta Therapeutics are among the top 5 highly rated stocks within the group.
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