On Thursday, BridgeBio Pharma hit an important technical milestone, with its Relative Strength (RS) Rating jumping into the 90-plus percentile with an improvement to 92, up from 88 the day before.
IBD's unique rating identifies market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the last 52 weeks stacks up against all the other stocks in our database.
Decades of market research shows that the best stocks typically have an 80 or better RS Rating as they launch their biggest runs.
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BridgeBio Pharma 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 stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
The company reported 0% earnings growth in its most recent report. Sales gains came in at 236%.
The company holds the No. 149 rank among its peers in the Medical-Biomed/Biotech industry group. Krystal Biotech, ADMA Biologics and Catalyst Pharmaceuticals 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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