Hot biotech stocks lift to the top; Pass Buy Point or Base Separator Build Site Title Site Title Separator

Hot Biotech Stock Leaders Are Rising Strongly in IBD 50 elite list, with some passing buy points and others building bases. Among them, Catalyst Pharmaceuticals (CPR), Harmonious biological science (personnel), Genmab (GMAB) and Neurobiological Science (NBIX) all show bullish price patterns.

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Catalyst currently holds the top position in the IBD 50 and leads an industry group of more than 800 companies. It attaches a cup base with handle in heavy volume on Wednesday, surpassing a buy points at 16.76, according to MarketSmith.com. Shares fell 0.5% on Friday but remained in the buy range.

This Biotech Stock Is Monday IBD Stock Of The Day. It is also a IBD Technology Team Leader member and one IBD 50 Growth Stocks to Watch.

The Miami-based biotech company’s profits depend on firdapse, a treatment for Lambert-Eaton myasthenic syndrome, or LEMS. LEMS is a rare autoimmune condition that reduces muscle strength, often occurring in lung cancer patients. The promising drug posted sales of $57.2 million in the third quarter, marking a growth of more than 59%.

Although sales are growing, Catalyst is looking to purchase a second or third product — either through outright acquisitions or licensing agreements.

Bullishly, CPRX stocks have a best possible Overall rating of 99, according to Digital IBD. This puts biotech stocks in the top 1% of all stocks on fundamental and technical measures. Its 12-month performance is also in the top 1% of all stocks, as measured by Relative Strength Rating.

Harmony Biotech Stocks Crosses Buy Points

IBD 50 Components Harmony Biosciences has erupted a cup with handle based on Nov. 1 after posting a profit of 95 cents per share, easily beating FactSet’s estimate of 18 cents. On Friday, the stock broke through a 52.62 buy point and crossed the 50-day moving average.

Harmony’s claim to fame is so endearing, that it sees “as a portfolio in a product opportunity.”

Pitolisant is currently approved as Wakix, a treatment for narcolepsy, but Harmony is investigating its potential for idiopathic insomnia, another sleep disorder. The drug may also be helpful in the treatment of muscular dystrophy, a disease of muscle weakness.

It is also testing some treatments for Prader-Willi syndrome, a syndrome that causes some behavioral and intellectual problems and can lead to short stature.

Biotech stock ranks eighth on the IBD 50 and third in the Health-Biology/Biotech industry group. This group is particularly strong this year, ranking 18th out of 197 industry groups.

Harmony stock also has a perfect Composite Rating of 99 and a strong RS Rating of 97.

Genmab and neuron building base

Genmab is an IBD Tech Leader component that ranks 12th on the IBD 50 list. Biotech stocks are shaping up for a long time cup base with a buy point at 49.17.

The company develops antibody treatments for cancer and other diseases, in partnership with biopharmaceutical giants, including AbbVie (ABBV), Johnson & Johnson (JNJ), Horizon therapy (HZNP) and Seagen (SGEN). The Denmark-based biotech is now expanding its drug set to new solid tumors and blood cancers.

For the September quarter, earnings and revenue increased to 53 cents per share and $551 million, respectively. Both measures easily topped forecasts.

GMAB stock has a Composite Rating of 99 and a Strong Relative Strength Rating of 96, roughly the same as Harmony and other leading biotech companies. Its RS . line is at a new high.

Last but not least, Neurocrine develops pharmaceuticals for the treatment of neurological, endocrine and psychiatric disorders. It reported earnings on November 1, narrowly missing earnings estimates while beating past sales estimates. The stock was up 1.9% on Friday.

Shares are consolidating near multi-year highs, extending from October’s breakout. Despite falling to 50 day road Last week, Neurocrine stock is now back above the 50-day line and has tight pattern for three weeks it’s on the go for a fourth week.

Technically it shows 126.09 buy points but investors may want to wait for less volatile price swings.

NBIX stock is ranked 7th in the group, with a Composite Rating of 95 and an RS Rating of 95.

Follow Michael Molinski on Twitter @IMmolinski

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