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Shares of Halozyme Therapeutics Under Pressure, Down 1.3%

Published on Thu, 01/03/2013 - 11:37
By Peter Chu

Halozyme Therapeutics (NASDAQ:HALO) is one of today's notable stocks in decline, down 1.3% to $6.70. The S&P is trading fractionally lower to 1,460 and the Dow is trading 0.2% lower to 13,383.

There is potential upside of 33.3% for shares of Halozyme Therapeutics based on a current price of $6.70 and an average consensus analyst price target of $8.93. The stock should hit resistance at its 200-day moving average (MA) of $7.53, as well as support at its 50-day MA of $5.71.

Halozyme Therapeutics, Inc. develops and commercializes recombinant human enzymes for the infertility, ophthalmology, and oncology communities. The Company's product portfolio is based on intellectual property covering the family of human enzymes known as hyaluronidases. Halozyme's products offer an alternative to slaughterhouse-derived extracts that carry contamination risks.

Over the past year, Halozyme Therapeutics has traded in a range of $3.86 to $13.50 and is now at $6.70, 74% above that low. The 200-day and 50-day moving averages have moved 1.04% lower and 0.59% higher over the past week, respectively.

By Peter Chu
pchu@fnno.com