Halozyme Therapeutics stock had its Relative Strength (RS) Rating upgraded from 80 to 84 Thursday.
IBD's unique RS Rating identifies market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the trailing 52 weeks matches up against that of all other stocks.
History reveals that the best stocks typically have an RS Rating of above 80 as they begin their biggest climbs.
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Is Halozyme Therapeutics Stock A Buy?
Halozyme Therapeutics stock is now considered extended and out of buy range after clearing a 42.64 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.
The biotech company showed 68% earnings growth last quarter. Sales gains came in at 21%.
Halozyme Therapeutics stock holds the No. 1 rank among its peers in the Medical-Biomed/Biotech industry group. United Therapeutics and Vertex Pharmaceuticals are also among the group's highest-rated stocks.
