When putting together your watch list, focus on stocks with an 80 or higher RS Rating. Innoviva just met that criteria with a new score of 81.
This exclusive rating from Investor's Business Daily tracks market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the trailing 52 weeks compares to all the other stocks in our database.
History reveals that the best stocks tend to have an RS Rating north of 80 in the early stages of their moves.
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Innoviva is now considered extended and out of buy range after clearing a 16.86 buy point in a first-stage consolidation. 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.
Earnings-per-share growth fell last quarter from 0% to -98%, but sales rose from 23% to 33%.
The company holds the No. 100 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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