As Bluebird Bio (BLUE), Clovis Oncology (CLVS) and Kite Pharma (KITE) climb higher, fellow biotech stock Incyte (INCY) is trying to regain its footing and launch a new run.
On Tuesday, the developer of small molecule drugs to treat cancer saw its Relative Strength (RS) Rating jump into a new percentile Tuesday, with an increase from 75 to 81.
IBD's unique RS Rating tracks market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the last 52 weeks matches up against that of all other stocks. Over 100 years of market history reveals that the market's biggest winners tend to have an RS Rating of at least 80 as they launch their biggest price moves.
The stock is trying to complete a consolidation with a potential 153.25 buy point. See if it can break out in heavy trade.
On Tuesday, the stock was moving back above its 50-day line. Volume was trending below average.
While EPS growth has fallen off over the last two quarters, revenue rose from 34% to 46% in Q1.
The company holds the No. 93 rank among its peers in the Medical-Biomed/Biotech industry group. Supernus Pharmaceuticals (SUPN), Vertex Pharmaceuticals (VRTX) and Celgene (CELG) are among the top 5 highly rated stocks within the group.
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