On Thursday, Vertex Pharmaceuticals earned a positive adjustment to its Relative Strength (RS) Rating, from 68 to 74.
This unique rating tracks technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the trailing 52 weeks compares to the rest of the market.
History shows that the market's biggest winners typically have an 80 or better RS Rating in the early stages of their moves. See if Vertex Pharmaceuticals can continue to show renewed price strength and hit that benchmark.
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Vertex Pharmaceuticals broke out earlier, but is now trading approximately 5% below the prior 510.63 entry from a flat base. If a stock you're tracking clears a buy point then falls 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 base and entry price. Also understand that the latest pattern is a later-stage base, and those involve more risk.
Vertex Pharmaceuticals saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 2% to 7%. Revenue rose from 6% to 12%.
The company earns the No. 20 rank among its peers in the Medical-Biomed/Biotech industry group. ADMA Biologics, Catalyst Pharmaceuticals and Exelixis are among the top 5 highly rated stocks within the group.
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