The IBD SmartSelect Composite Rating for Ionis Pharmaceuticals rose from 94 to 96 Friday.
The upgrade means the stock currently tops 96% of all other stocks in terms of key performance metrics and technical strength. The best stocks tend to have a 95 or better grade as they kick off a significant move so be sure to keep that in mind when looking for the best stocks to buy and watch.
Ionis Pharmaceuticals is currently forming a cup without handle, with a 44.52 entry. See if the stock can break out in volume at least 40% above average. It is also showing the MarketSmith special BLUE DOT, indicating the RS Line is at a new high.
Looking For The Best Stocks To Buy And Watch? Try These Screens
One weak spot is the company's 55 EPS Rating, which tracks quarterly and annual earnings growth. Look for that to improve to 80 or better to show it's in the top 20% of all stocks.
Its Accumulation/Distribution Rating of B shows moderate buying by institutional investors over the last 13 weeks.
Earnings Report
The company posted a 13% earnings-per-share gain for Q1. Top line growth fell to 27%, down from 52% in the previous quarter. The company's next quarterly report is expected on or around Aug. 4.
Ionis Pharmaceuticals holds the No. 9 rank among its peers in the Medical-Biomed/Biotech industry group. Amphastar Pharmaceutcls, Catalyst Pharma and Vertex Pharmaceuticals are among the top 5 highly-rated stocks within the group.
Stocks To Buy And Watch: Top IPOs, Big And Small Caps, Growth Stocks
