Small-cap drugmaker Corcept Therapeutics (CORT) saw a positive improvement to its Relative Strength (RS) Rating on Thursday, rising from 85 to 91. The new 91 RS Rating means Corcept stock has outperformed 90% of all other stocks over the past year.
XIt's a singular distinction. Market research shows that stocks that go on to make the biggest gains often have an 80 or better RS Rating in the early stages of their moves. Corcept develops drugs to treat psychiatric/metabolic disorders. Its drugs help regulate cortisol, a steroid used to treat stress-related disorders. Cortisol helps maintain blood pressure, regulate blood sugar and reduce inflammation.
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Corcept Stock Ratings Mostly Strong
Among its other key ratings, Menlo Park, Calif.-based Corcept has an 87 EPS Rating, putting it in the top 13% of companies for profit growth. Corcept stock also boasts a bullish 94 Composite Rating, of 99. And its relative strength line, which compares a stock's performance vs. the S&P 500, has moved into new high territory, a bullish sign of market leadership.
One yellow flag to watch is its D Accumulation/Distribution Rating. The D rating indicates that institutional investors like mutual funds are selling slightly more shares than buying. For perspective, the same could be said for a slew of other drug stocks as the bear market wears on.
In terms of fundamentals, Corcept reported flat earnings vs. the same quarter a year ago. But that followed 25% and 30% EPS growth the prior two quarters. Revenue in its most recent quarter grew 18% to $93.7 million, up from 15% growth the prior quarter.
Climbing The Right Side Of A Cup Base
Corcept Therapeutics is forming a cup without handle with a 25.78 buy point. See if the stock can break out in heavy volume. On Thursday, Corcept stock shot up more than 4%.
Corcept stock holds the No. 6 rank among its peers in the Medical-Biomed/Biotech industry group. Vertex Pharmaceuticals (VRTX), Harmony Biosciences (HRMY) and United Therapeutics (UTHR) are among the top 5 highly rated stocks in the group.
As you try to find the best stocks to buy and watch, keep a close on eye on relative price strength. This exclusive rating from Investor's Business Daily measures share price movement with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the last 52 weeks stacks up against all the other stocks in our database.
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The post Corcept Stock Near Buy Point; Strength Rating Jumps To 91 appeared first on Investor's Business Daily.
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