How to Find Strong Buy Medical Stocks Using the Zacks Rank

Zacks Equity Research
·1-min read

It doesn't matter if you're a growth, value, income, or momentum-focused investor -- building a successful investment portfolio takes skill, research, and a little bit of luck.

Should You Buy #1 (Strong Buy)-Ranked Halozyme Therapeutics (HALO) for Your Portfolio?

Halozyme Therapeutics was upgraded to the Zacks Rank #1 list on July 9, 2024. The Zacks Rank is a unique stock-rating model that helps you take advantage of earnings estimate revision trends and provides a way to get into stocks highly sought after by institutional investors.

San Diego, CA-based Halozyme Therapeutics is a biopharmaceutical company, focused on the development and commercialization of novel treatments for oncology indications by targeting tumor microenvironment. The company also licenses its novel drug delivery technology, ENHANZE, for subcutaneous (SC) administration of drugs.

For fiscal 2024, four analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.21 to $3.90 per share. HALO boasts an average earnings surprise of 9.4%.

Earnings are forecasted to see growth of 40.8% for the current fiscal year, and sales are expected to increase 19.3%.

HALO has been moving higher over the past four weeks as well, up 5.9% compared to the S&P 500's gain of 4.4%.

Bottom Line

With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, Halozyme Therapeutics could be just the stock to help your portfolio generate returns that could fund your retirement, your kids' college tuition, or your short- and long-term savings goals.

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Halozyme Therapeutics, Inc. (HALO) : Free Stock Analysis Report

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