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Stock Investors Bid Up Shares of Halozyme Therapeutics, Up 14.0%

Published on Mon, 01/14/2013 - 13:11
By Peter Chu

Up 14.0% to $8.22, Halozyme Therapeutics (NASDAQ:HALO), is one of today's notable movers. The S&P is trading lower by 0.2% to 1,469 and the Dow is trading fractionally higher to 13,494.

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.

Halozyme Therapeutics has overhead space with shares priced $8.22, or 4.2% below the average consensus analyst price target of $8.58. The stock should discover initial support at its 200-day moving average (MA) of $7.35 and subsequent support at its 50-day MA of $5.92.

In the past 52 weeks, Halozyme Therapeutics share prices have been bracketed by a low of $3.86 and a high of $13.50 and are now at $8.22, 113% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 3.0% while the 200-day MA has slid 1.7%.

By Peter Chu
pchu@fnno.com