Why Halozyme Therapeutics (HALO) is a Top Momentum Stock for the Long-Term
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.
Is This 1 Momentum Stock a Screaming Buy Right Now?
Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
Halozyme Therapeutics (HALO)
San Diego, CA-based Halozyme Therapeutics is a biopharmaceutical company, focused on the development and commercialization of novel treatments for oncology indications by targeting tumor microenvironment. The company also licenses its novel drug delivery technology, ENHANZE, for subcutaneous (SC) administration of drugs.
HALO is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of A and VGM Score of B. Shares are up 1.8% over the past one week and up 18% over the past four weeks. HALO has gained 49.1% in the last one-year period as well. Looking at trading volume, an average of 1,350,480.88 shares exchanged hands over the last 20 trading days.
Momentum investors also pay close attention to a company's earnings. For HALO, four analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.03 to $3.93 per share for 2024. HALO boasts an average earnings surprise of 9.2%.
HALO should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.
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Halozyme Therapeutics, Inc. (HALO) : Free Stock Analysis Report