We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Halozyme Therapeutics (HALO) Soars 5.4%: Is Further Upside Left in the Stock?
Read MoreHide Full Article
Halozyme Therapeutics (HALO - Free Report) shares ended the last trading session 5.4% higher at $40.27. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 9.3% gain over the past four weeks.
The sudden surge in the stock price is likely due to the positive topline results announced by Halozyme’s partner, Argenx (ARGX - Free Report) , from its chronic inflammatory demyelinating polyneuropathy (CIDP) study. Argenx is evaluating Vyvgart Hytrulo (efgartigimod alfa and hyaluronidase-qvfc) in its ADHERE study, which uses Halozyme’s Enhanze drug delivery technology, in treating adults with CIDP. The study met its primary endpoint of a significantly lower risk of relapse with Vyvgart Hytrulo compared to treatment with placebo. Detailed Data from the study is scheduled to be presented at an upcoming medical conference.
This biopharmaceutical company is expected to post quarterly earnings of $0.63 per share in its upcoming report, which represents a year-over-year change of +18.9%. Revenues are expected to be $201.43 million, up 32.2% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Halozyme Therapeutics, the consensus EPS estimate for the quarter has been revised marginally lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on HALO going forward to see if this recent jump can turn into more strength down the road.
Halozyme Therapeutics belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Vertex Pharmaceuticals (VRTX - Free Report) , closed the last trading session 1.5% higher at $357.98. Over the past month, VRTX has returned 1.4%.
Vertex's consensus EPS estimate for the upcoming report has changed +0.1% over the past month to $3.82. Compared to the company's year-ago EPS, this represents a change of +6.1%. Vertex currently boasts a Zacks Rank of #2 (Buy).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Halozyme Therapeutics (HALO) Soars 5.4%: Is Further Upside Left in the Stock?
Halozyme Therapeutics (HALO - Free Report) shares ended the last trading session 5.4% higher at $40.27. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 9.3% gain over the past four weeks.
The sudden surge in the stock price is likely due to the positive topline results announced by Halozyme’s partner, Argenx (ARGX - Free Report) , from its chronic inflammatory demyelinating polyneuropathy (CIDP) study. Argenx is evaluating Vyvgart Hytrulo (efgartigimod alfa and hyaluronidase-qvfc) in its ADHERE study, which uses Halozyme’s Enhanze drug delivery technology, in treating adults with CIDP. The study met its primary endpoint of a significantly lower risk of relapse with Vyvgart Hytrulo compared to treatment with placebo. Detailed Data from the study is scheduled to be presented at an upcoming medical conference.
This biopharmaceutical company is expected to post quarterly earnings of $0.63 per share in its upcoming report, which represents a year-over-year change of +18.9%. Revenues are expected to be $201.43 million, up 32.2% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Halozyme Therapeutics, the consensus EPS estimate for the quarter has been revised marginally lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on HALO going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Halozyme Therapeutics belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Vertex Pharmaceuticals (VRTX - Free Report) , closed the last trading session 1.5% higher at $357.98. Over the past month, VRTX has returned 1.4%.
Vertex's consensus EPS estimate for the upcoming report has changed +0.1% over the past month to $3.82. Compared to the company's year-ago EPS, this represents a change of +6.1%. Vertex currently boasts a Zacks Rank of #2 (Buy).