Karuna Therapeutics (KRTX) had its Relative Strength (RS) Rating upgraded from 63 to 71 Friday — a welcome improvement, but still shy of the 80 or higher score you look for.
When looking for the best stocks to buy and watch, be sure to pay attention to relative price strength.
IBD’s proprietary RS Rating tracks market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock’s price action over the last 52 weeks compares to other publicly traded companies.
History shows that the best stocks tend to have an RS Rating of over 80 in the early stages of their moves. See if Karuna Therapeutics can continue to show renewed price strength and hit that benchmark.
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While now is not an ideal time to jump in, see if the stock manages to offer and clear a proper buy point.
The company reported -5% earnings growth in its most recent report. Revenue increased 0%.
The company earns the No. 91 rank among its peers in the Medical-Biomed/Biotech industry group. Vertex Pharmaceuticals (VRTX) and Amphastar Pharmaceutcls (AMPH) are also among the group’s highest-rated stocks.
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