Shares of biotech leader Supernus Pharmaceuticals (SUPN) briefly broke out Tuesday, but struggled to remain above that key level of support as IBD's 425-company Biomed-Biotech industry group broadly fell.
On the stock market today, Supernus stock lifted as much as 4% to top a 32.10 buy point out of an ascending base that began in February. Shares settled back below that buy point by the closing bell and ended the regular session up 1.9% to 31.85.
Meanwhile, biotech stocks collectively lost 1.4%. Agios Therapeutics (AGIO), Audentes Therapeutics (BOLD) and Galapagos (GLPG) stocks were among the biggest losers, dropping a respective 9.3%. 6.9% and 3.3%.
Supernus is ranked second in the biotech industry group with a Composite Rating of 98, meaning it outperforms all but 2% of stocks in terms of key growth metrics. It trails Celgene (CELG), and is tied with Bioverativ (BIIV), Corcept Therapeutics (CORT), Vertex Pharmaceuticals (VRTX) and Cytokinetics (CYTK) in its group.
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Biotech stocks dropped below their 50-day moving average on April 5. But the group is still ranked No. 7 out of 197 groups tracked, down from No. 5 last week but still a big boost over No. 48 just 13 weeks ago.
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