On Wednesday, BeOne Medicines (ONC) stock received an upgrade to its Relative Strength (RS) Rating, from 89 to 92.

This exclusive rating from Investor's Business Daily identifies share price action with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the last 52 weeks compares to all the other stocks in our database.

History reveals that the best stocks typically have an RS Rating of over 80 as they launch their biggest runs.

Is BeOne Medicines Stock A Buy?

The IBD 50 stock broke out of a flat base with a 355.30 buy point Wednesday on heavy trade.  BeOne Medicines stock is still within the 5% buy range but try not to chase stocks once it gets extended.

The Switzerland-based biotech firm posted 452% earnings growth in the latest quarterly report. Sales rose 42%.

BeOne Medicines stock earns the No. 12 rank among its peers in the Medical-Biomed/Biotech industry group. Genmab ADR (GMAB), Incyte (INCY) and Krystal Biotech (KRYS) are among the top 5 highly rated stocks within the group. For more industry news, check out "Biotech And Pharmaceutical Industry And Stock News."

This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.

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