On Thursday, Madrigal Pharmaceuticals cleared a noteworthy performance benchmark, seeing its Relative Strength (RS) Rating jump into the 90-plus percentile with an improvement to 93, up from 86 the day before.
IBD's unique rating identifies share price movement with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the trailing 52 weeks compares to all the other stocks in our database.
Over 100 years of market history reveals that the top-performing stocks often have an RS Rating north of 80 as they launch their biggest price moves.
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Madrigal Pharmaceuticals broke out earlier, but is now trading around 3% below the prior 368.29 entry from a consolidation. If a stock you're tracking clears a buy point then retreats 7% or more below the original entry price, it's considered a failed base. Wait for the stock to set up and breakout from a new chart pattern and buy point. Also understand that the most recent pattern is a later-stage base, and those involve more risk.
The company showed 0% earnings growth last quarter. Revenue gains came in at 0%.
Madrigal Pharmaceuticals holds the No. 54 rank among its peers in the Medical-Biomed/Biotech industry group. GeneDx Holdings, 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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