Alkermes Earns Composite Rating Upgrade With An RS Line At New Highs

Alkermes (ALKS) saw an improvement in its IBD SmartSelect Composite Rating Wednesday, from 94 to 96.

The upgrade means the stock is now outperforming 96% of all other stocks in terms of key performance metrics and technical strength. History shows the top market performers tend to have a 95 or higher score as they launch their major moves.

Alkermes stock is currently extended beyond a proper buy zone after clearing the 23.08 buy point in a cup with handle. Maybe a chance to enter as it bounces of the 21-day line?

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The stock earns a 97 EPS Rating, which means its recent quarterly and longer-term annual earnings growth is outpacing 97% of all stocks.

Its Accumulation/Distribution Rating of B shows moderate buying by institutional investors over the last 13 weeks.

In Q2, the company reported 400% EPS growth. Revenue growth increased 23%, up from 2% in the prior quarter. The company has now posted increasing growth in each of the last two reports.

Alkermes stock holds the No. 3 rank among its peers in the Medical-Biomed/Biotech industry group. Biontech Se Ads (BNTX) is the top-ranked stock within the group.


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