BridgeBio Pharma stock saw a positive improvement to its Relative Strength (RS) Rating on Tuesday, with an increase from 64 to 87.
IBD's unique RS 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.
Over 100 years of market history shows that the stocks that go on to make the biggest gains often have an RS Rating of above 80 as they launch their biggest climbs.
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Is BridgeBio Pharma Stock A Buy?
BridgeBio Pharma stock is now considered extended and out of buy range after clearing a 30.51 buy point in a first-stage cup with handle. See if the biotech 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.
The Calif.-based biotech firm showed 0% earnings growth last quarter, while sales growth came in at -33%.
BridgeBio Pharma earns the No. 180 rank among its peers in the Medical-Biomed/Biotech industry group. Catalyst Pharmaceuticals, Halozyme Therapeutics and Exelixis are among the top 5 highly rated stocks within the group. For more industry news, check out "Biotech And Pharmaceutical Industry And Stock News."
