SpringWorks Therapeutics had its Relative Strength (RS) Rating upgraded from 67 to 72 Tuesday — a welcome improvement, but still short of the 80 or better score you look for.
IBD's proprietary RS Rating identifies technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the last 52 weeks compares to the rest of the market.
History reveals that the market's biggest winners typically have an 80 or better RS Rating as they begin their largest runs. See if SpringWorks Therapeutics can continue to show renewed price strength and hit that benchmark.
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SpringWorks Therapeutics has risen more than 5% past a 34.16 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 moving average.
The company posted 0% earnings growth last quarter, while sales growth came in at -100%.
SpringWorks Therapeutics earns the No. 256 rank among its peers in the Medical-Biomed/Biotech industry group. ADMA Biologics, Halozyme Therapeutics and Sarepta Therapeutics are among the top 5 highly rated stocks within the group.
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