In a welcome move, Alkermes stock saw its Relative Strength Rating improve from 69 to 75 on Thursday.
When looking for the best stocks to buy and watch, keep a close on eye on relative price strength.
IBD's unique RS Rating tracks technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the last 52 weeks stacks up against all the other stocks in our database.
Decades of market research shows that the market's biggest winners often have an 80 or higher RS Rating in the early stages of their moves. See if Alkermes can continue to rebound and clear that threshold.
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Is Alkermes Stock A Buy?
Alkermes stock surged 13% Thursday on positive Q4 and 2023 earnings results. The biotech stock is trying to complete a flat base with a 29.61 buy point. See if the stock can break out in volume at least 40% higher than normal.
While revenue growth fell last quarter from 124% to 51%, EPS grew 3,100%, up from 817% in the previous report. The company is expected to report its latest numbers on or around Feb. 15.
Alkermes stock holds the No. 3 rank among its peers in the Medical-Biomed/Biotech industry group. Neurocrine Biosciences and Alkermes are also among the group's highest-rated stocks. For more industry news, check out "Biotech And Pharmaceutical Industry And Stock News."
