As Biogen (BIIB) spin-off and 2017 IPO Bioverativ (BIVV) breaks out, fellow biotech stock Celgene (CELG) is also closing in on a new buy zone while getting an upgrade to its IBD SmartSelect Composite Rating Tuesday, from 94 to 97.
The new score tells you the developer of cancer treatments is now outperforming 97% of all stocks in terms of the most important fundamental and technical stock-picking criteria. The top-performing stocks tend to have a 95 or better grade as they kick off a significant move.
Celgene is currently forming a flat base, with a 127.74 entry. On Tuesday, the stock gave back a portion of the session's gains, but still closed just under 1% higher, leaving it 1% below the buy point.
Volume was lighter than on Monday, but well above average for the third straight day.
The stock earns a 98 EPS Rating, meaning its recent quarterly and longer-term annual earnings growth is outpacing 98% of all stocks. Celgene also sports a 50% annual pretax profit margin.
Its Accumulation/Distribution Rating of B shows moderate buying by institutional investors over the last 13 weeks.
In Q1, the company reported 27% earnings-per-share growth. Revenue growth increased 18%, up from 16% in the prior report. That marks one quarter of increasing revenue gains.
Celgene holds the No. 3 rank among its peers in the Medical-Biomed/Biotech industry group. Supernus Pharmaceuticals (SUPN) is the top-ranked stock within the group.
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