One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Inhibrx stock now clears that threshold, with a jump from 80 to 86 Wednesday.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary RS Rating measures market leadership by showing how a stock's price movement over the last 52 weeks measures up against that of other stocks on the major indexes.
Over 100 years of market history shows that the stocks that go on to make the biggest gains tend to have an 80 or better RS Rating in the early stages of their moves.
See How IBD Helps You Make More Money In Stocks
Is Inhibrix Stock A Buy?
Inhibrix stock recently retook its 200-day moving line, a good sign of trend reversal. While the biotech stock is not near a proper entry right now, see if it goes on to form and break out of a proper chart pattern. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
The biotech company showed 0% EPS growth in its most recent report. Revenue rose -91%. Look for the next report on or around May 10.
Inhibrx stock holds the No. 258 rank among its peers in the Medical-Biomed/Biotech industry group. Vertex Pharmaceuticals and Amphastar Pharm are also among the group's highest-rated stocks. For more industry news, check out "Biotech And Pharmaceutical Industry And Stock News."
