Halozyme Therapeutics (NASDAQ:HALO) crossed over its 10-day moving average of $13.96 on a volume of 708K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.
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 $18.18 and is now at $14.17, 267% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 1.0% while the 50-day MA has advanced 2.6%.
There is potential upside of 9.9% for shares of Halozyme Therapeutics based on a current price of $14.17 and an average consensus analyst price target of $15.57. The stock should discover initial support at its 50-day moving average (MA) of $11.52 and subsequent support at its 200-day MA of $9.69.