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Surging Earnings Estimates Signal Good News for Halozyme (HALO)

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Halozyme Therapeutics, Inc. (HALO - Free Report) is a biopharmaceutical company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
 
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on HALO’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Halozyme could be a solid choice for investors.

Current Quarter Estimates for HALO

In the past 30 days, estimates for Halozyme has narrowed from a loss of 8 cents a share, to a loss of 6 cents today, a move of 25%.

Current Year Estimates for HALO

Meanwhile, Halozyme’s current year figures are also looking quite promising, with two estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 58 cents per share 30 days ago to 66 cents per share today, an increase of 13.8%.

Bottom Line

The stock has also started to move higher lately, adding 8.6% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #2 (Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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