Halozyme Therapeutics (HALO) shares rallied 7.3% in the last trading session to close at $50.17. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock’s 1.2% gain over the past four weeks.
Shares surged as investors are more likely impressed by Halozyme’s recent pipeline progress. The company recently announced the commercial launch of its second testosterone replacement therapy product, Tlando. The oral treatment received FDA approval on Mar 28, 2022. Moreover, Halozyme completed the acquisition of Antares Pharma, in May, adding an industry-leading auto-injector platform to complement its ENHANZE technology. The acquisition is anticipated to help HALO become a leader in the drug-delivery space.
This biopharmaceutical company is expected to post quarterly earnings of $0.50 per share in its upcoming report, which represents a year-over-year change of -24.2%. Revenues are expected to be $131.09 million, down 3.9% 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 remained unchanged over the last 30 days. And a stock’s price usually doesn’t keep moving higher in the absence of any trend in earnings estimate revisions. 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 is a member of the Zacks Medical – Biomedical and Genetics industry. One other stock in the same industry, AnaptysBio, Inc. (ANAB), finished the last trading session 4.9% lower at $19.97. ANAB has returned -12.3% over the past month.
For AnaptysBio, Inc.
, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.95. This represents a change of -4650% from what the company reported a year ago. AnaptysBio, Inc. currently has a Zacks Rank of #4 (Sell).
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