On Thursday, Protagonist Therapeutics earned a positive adjustment to its Relative Strength (RS) Rating, from 89 to 92.
IBD's unique RS Rating identifies market leadership by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
History shows that the market's biggest winners tend to have an RS Rating of over 80 as they begin their biggest price moves.
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Protagonist Therapeutics is now considered extended and out of buy range after clearing a 32.64 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.
Protagonist Therapeutics reported 0% earnings growth last quarter, while sales growth came in at -100%.
The company earns the No. 7 rank among its peers in the Medical-Ethical Drugs industry group. Phibro Animal Health, Bristol Myers Squibb and Jazz Pharmaceuticals are among the top 5 highly rated stocks within the group.
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