Advertisement
Singapore markets closed

  • Straits Times Index

    3,332.80
    -10.55 (-0.32%)
     

  • Nikkei

    39,583.08
    +241.54 (+0.61%)
     

  • Hang Seng

    17,718.61
    +2.14 (+0.01%)
     

  • FTSE 100

    8,164.12
    -15.56 (-0.19%)
     

  • Bitcoin USD

    61,488.34
    +501.18 (+0.82%)
     

  • CMC Crypto 200

    1,276.20
    -7.63 (-0.59%)
     

  • S&P 500

    5,460.48
    -22.39 (-0.41%)
     

  • Dow

    39,118.86
    -45.20 (-0.12%)
     

  • Nasdaq

    17,732.60
    -126.08 (-0.71%)
     

  • Gold

    2,336.90
    +0.30 (+0.01%)
     

  • Crude Oil

    81.46
    -0.28 (-0.34%)
     

  • 10-Yr Bond

    4.3430
    +0.0550 (+1.28%)
     

  • FTSE Bursa Malaysia

    1,590.09
    +5.15 (+0.32%)
     

  • Jakarta Composite Index

    7,063.58
    +95.63 (+1.37%)
     

  • PSE Index

    6,411.91
    +21.33 (+0.33%)
     

Why This 1 Momentum Stock Could Be a Great Addition to Your Portfolio

Zacks Equity Research
·2-min read

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.

Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.

Is This 1 Momentum Stock a Screaming Buy Right Now?

Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.

ADVERTISEMENT

Halozyme Therapeutics (HALO)

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.

HALO sits at a Zacks Rank #3 (Hold), holds a Momentum Style Score of B, and has a VGM Score of A. The stock is up 3.4% and up 21.6% over the past one-week and four-week period, respectively, and Halozyme Therapeutics has gained 52% in the last one-year period as well. Additionally, an average of 1,473,238.25 shares were traded over the last 20 trading sessions.

A company's earnings performance is important for momentum investors as well. For fiscal 2024, four analysts revised their earnings estimate higher in the last 60 days for HALO, while the Zacks Consensus Estimate has increased $0.24 to $3.90 per share. HALO also boasts an average earnings surprise of 9.4%.

With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding HALO to their portfolios.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

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

To read this article on Zacks.com click here.

Zacks Investment Research