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Recent 52-Week High Exceeded in Shares of Halozyme Therape (HALO)

By Shiri Gupta

Halozyme Therape (NASDAQ:HALO) traded today at a new 52-week high of $21.31. This new high was reached on below average trading volume as 420,000 shares traded hands, while the average 30-day volume is approximately 1.6 million shares.

Halozyme Therapeutics, Inc. is a biopharmaceutical company developing products for the diabetes, cancer, dermatology, and drug delivery markets. The Company's platform technology is based on recombinant human hyaluronidase plus additional enzymes. Halozyme applies its technology to its proprietary programs and to partnerships with pharmaceutical companies.

Potential upside of 3.0% exists for Halozyme Therape, based on a current level of $21.27 and analysts' average consensus price target of $21.91. The stock should discover initial support at its 200-day moving average (MA) of $14.16 and subsequent support at its 50-day MA of $9.95.

In the past 52 weeks, shares of Halozyme Therape have traded between a low of $7.70 and a high of $21.31 and are now at $21.27, which is 176% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.7% while the 200-day MA has slid 2%.

SmarTrend recommended that subscribers consider buying shares of Halozyme Therape on February 26th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $19.83. Since that recommendation, shares of Halozyme Therape have risen 5.3%. We continue to monitor HALO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows halozyme therape

Ticker(s): HALO