On Monday, Harmony Biosciences got a positive adjustment to its Relative Strength (RS) Rating, from 63 to 71.
IBD's unique RS Rating identifies market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the trailing 52 weeks stacks up against all the other stocks in our database.
History reveals that the best-performing stocks often have an RS Rating north of 80 in the early stages of their moves. See if Harmony Biosciences can continue to show renewed price strength and clear that threshold.
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While Harmony Biosciences is not near an ideal entry right now, see if it manages to form and break out of a proper consolidation.
Harmony Biosciences reported 6% earnings growth last quarter, while sales growth came in at 16%.
Harmony Biosciences holds the No. 11 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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