In a welcome move, Amphastar Pharm saw its Relative Strength Rating improve from 67 to 75 on Thursday.
IBD's proprietary 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.
Over 100 years of market history shows that the stocks that go on to make the biggest gains tend to have an RS Rating of at least 80 in the early stages of their moves. See if Amphastar Pharm can continue to rebound and hit that benchmark.
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Amphastar Pharm is building a double bottom with a 65.92 entry. See if it can clear the breakout price in volume at least 40% higher than normal. It's a later-stage pattern, and investors should be aware that those involve more risk.
EPS growth fell last quarter from 68% to 45%, but sales rose from 23% to 25%. The company is expected to report its latest earnings and sales numbers on or around Nov. 4.
Amphastar Pharm earns the No. 7 rank among its peers in the Medical-Biomed/Biotech industry group. ADMA Biologics, Catalyst Pharmaceuticals and United Therapeutics are among the top 5 highly rated stocks within the group.
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