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Strength Seen in Halozyme Therapeutics (HALO): Can Its 3.3% Jump Turn into More Strength?
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Halozyme Therapeutics (HALO - Free Report) shares ended the last trading session 3.3% higher at $115.13. 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 2.6% gain over the past four weeks.
The sudden price rise can be attributed to growing investor optimism surrounding the company’s strong collaboration deals for its novel drug-delivery technology, ENHANZE, with several large pharmaceutical companies. These collaborations generate royalty and milestone payments, which account for the majority of Halozyme’s revenues.
This biopharmaceutical company is expected to post quarterly earnings of $2.25 per share in its upcoming report, which represents a year-over-year change of +30.8%. Revenues are expected to be $470.95 million, up 32.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Halozyme Therapeutics, the consensus EPS estimate for the quarter has been revised 2.6% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates 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, Oculis Holding AG (OCS - Free Report) , closed the last trading session 5.6% higher at $10.71. Over the past month, OCS has returned -23.1%.
Oculis Holding AG's consensus EPS estimate for the upcoming report has changed -0.7% over the past month to -$0.49. Compared to the company's year-ago EPS, this represents a change of -22.5%. Oculis Holding AG currently boasts a Zacks Rank of #2 (Buy).
View the Zacks #1 Rank List
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Strength Seen in Halozyme Therapeutics (HALO): Can Its 3.3% Jump Turn into More Strength?
Halozyme Therapeutics (HALO - Free Report) shares ended the last trading session 3.3% higher at $115.13. 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 2.6% gain over the past four weeks.
The sudden price rise can be attributed to growing investor optimism surrounding the company’s strong collaboration deals for its novel drug-delivery technology, ENHANZE, with several large pharmaceutical companies. These collaborations generate royalty and milestone payments, which account for the majority of Halozyme’s revenues.
This biopharmaceutical company is expected to post quarterly earnings of $2.25 per share in its upcoming report, which represents a year-over-year change of +30.8%. Revenues are expected to be $470.95 million, up 32.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Halozyme Therapeutics, the consensus EPS estimate for the quarter has been revised 2.6% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates 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 #2 (Buy). 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, Oculis Holding AG (OCS - Free Report) , closed the last trading session 5.6% higher at $10.71. Over the past month, OCS has returned -23.1%.
Oculis Holding AG's consensus EPS estimate for the upcoming report has changed -0.7% over the past month to -$0.49. Compared to the company's year-ago EPS, this represents a change of -22.5%. Oculis Holding AG currently boasts a Zacks Rank of #2 (Buy).