On Thursday, Immunogen got a positive adjustment to its Relative Strength (RS) Rating, from 83 to 99. That big jump likely related to positive results from a recent drug trial.
As you try to find the best stocks to buy and watch, be sure to pay attention to relative price strength. This exclusive rating from Investor's Business Daily measures price action with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the last 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history shows that the stocks that go on to make the biggest gains typically have an RS Rating of at least 80 as they begin their biggest price moves.
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Immunogen has moved more than 5% past a 6.73 entry in a first-stage consolidation, meaning it's now out of a proper buy zone. Look for the stock to create a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
Earnings Report
Immunogen reported 0% EPS growth last quarter. Sales gains came in at 31%, however.
Immunogen holds the No. 96 rank among its peers in the Medical-Biomed/Biotech industry group. Catalyst Pharmaceuticals, Vertex Pharmaceuticals and Intra-Cellular Therapies are among the top 5 highly rated stocks within the group.
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