And the biopharmaceutical company could jump even more due to proprietary drug delivery technology and strong forward guidance. But another likely reason is Big Money lifting the stock.
Big Money Likes Halozyme
So, what’s Big Money? Said simply, that’s when a stock goes up in price alongside chunky volumes. It’s indicative of institutions betting on the shares.
Smart money managers are always looking for the next hot stock. And Halozyme has many fundamental qualities that are attractive.
This sets up well for the stock going forward. But how the shares have been trading points to more upside. As I’ll show you, the Big Money has been consistent in the shares.
You see, fund managers are always looking to bet on the next outlier stocks…the best in class. They spend countless hours sizing up companies, reading reports, speaking to analysts…you name it. When they find a company firing on all cylinders, they pounce in a big way.
That’s why I’ve learned how critical it is to gauge Big Money demand for shares. To show you what I mean, have a look at all the Big Money signals HALO has made this year.
The last few weeks have seen Big Money activity too. Each green bar signals big trading volumes as the stock ramped in price:
In the last year, the stock attracted seven Big Money buy signals. Generally speaking, recent green bars could mean more upside is ahead.
Now, let’s check out technical action grabbing my attention:
- 1-month outperformance vs. Health Care Select Sector SPDR ETF (+11.4% vs. XLV)
Outperformance is important for leading stocks.
Halozyme Fundamental Analysis
Next, it’s a good idea to check under the hood. Meaning, I want to make sure the fundamental story is strong too. As you can see, Halozyme has been growing earnings at a big rate and is hugely profitable. Take a look:
- 3-year sales growth rate (+43.8%)
- Profit margin (+90.8%)
Marrying great fundamentals with technically superior stocks is a winning recipe over the long-term.
In fact, HALO has been a top-rated stock at my research firm, MAPsignals. That means the stock has buy pressure, strong technicals, and growing fundamentals. We have a ranking process that showcases stocks like this on a weekly basis.
HALO has a lot of qualities that are attracting Big Money. It’s made the Top 20 report five times since 2016, with its first appearance on 04/28/2020…and gaining 96.3% since. The blue bars below show when Halozyme was a top pick:
It’s been a top stock in the health care sector according to the MAPsignals process. I wouldn’t be surprised if HALO makes additional appearances in the years to come. Let’s tie this all together.
Halozyme Price Prediction
The Halozyme rally could have further to go. Big Money buying in the shares is signaling to take notice. Shares could be positioned for further upside. Given the historical gains in share price and strong fundamentals, this stock could be worth a spot in a diversified portfolio.
Disclosure: the author holds no positions in HALO at the time of publication.
Learn more about the MAPsignals process here.