Halozyme Therapeutics saw an improvement in its IBD SmartSelect Composite Rating Thursday, from 94 to 96.
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The new rating shows the stock is outpacing 96% of all stocks when it comes to the most important stock-picking criteria. The best stocks tend to have a 95 or better grade as they begin to launch a significant move so be sure to keep that in mind when looking for the best stocks to buy and watch.
Halozyme Therapeutics is currently forming a cup without handle, with a 70.50 buy point. Look for the stock to break out in volume at least 40% above average.
The stock sports a 98 EPS Rating, meaning its recent quarterly and annual earnings growth is outpacing 98% of all stocks.
Its Accumulation/Distribution Rating of C shows a roughly equal amount of buying and selling by institutional investors over the last 13 weeks.
In Q1, the company reported 41% earnings-per-share growth. Sales growth climbed 35%, up from 30% in the prior report. That marks one quarter of rising revenue increases. The company's next quarterly report is expected on or around Aug. 5.
Halozyme Therapeutics earns the No. 4 rank among its peers in the Medical-Biomed/Biotech industry group. Incyte is the No. 1-ranked stock within the group.
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