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Strength Seen in Halozyme Therapeutics (HALO): Stock Soars 21.2%

Zacks

Halozyme Therapeutics, Inc. HALO was a big mover last session, as the company saw its shares rise more than 21% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This continues the recent uptrend for the company — as the stock is now up 34.3% in the past one-month time frame.

The stock gained after Halozyme announced that it has licensed the Enhanze drug-delivery technology to Roche. Concurrent to this news, management also announced its global collaboration as well as licensing agreement with Bristol-Myers Squibb. Consequently, the company raised its financial outlook for 2017.

The company has seen one positive estimate revisions in the past one month, while the Zacks Consensus Estimate for the current quarter has remained unchanged, suggesting that more solid trading could be ahead for Halozyme. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.

Halozyme currently has a Zacks Rank #2 (Buy), while its Earnings ESP is positive.

Halozyme Therapeutics, Inc. Price

Halozyme Therapeutics, Inc. Price | Halozyme Therapeutics, Inc. Quote


Another stock worth considering in the Medical – Biomedical and Genetics industry is Alexion Pharmaceuticals, Inc. ALXN, which carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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