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One biopharmaceutical stock that insiders are active in here is
Halozyme Therapeutics (
HALO), which is develops and commercializes innovative products that advance patient care. Insiders are buying this stock into modest strength, since shares are up 5% so far in 2013.
Halozyme Therapeutics has a market cap of $802 million and an enterprise value of $720 million. This stock trades at a premium valuation, with a price-to-sales of 14.95 and a price-to-book of 71.72. Its estimated growth rate for this year is -41.7%, and for next year it's pegged at 33.8%. This is a cash-rich company, since the total cash position on its balance sheet is $76.01 million and its total debt is $31.82 million.
>>4 Biotech Stocks Rising on Unusual Volume
A director just
bought 100,000 shares, or about $681,000 worth of stock, at $6.72 to $6.91 a share.
From a technical perspective, HALO is currently trending just below its 50-day moving average and above its 200-day moving average, which is neutral trendwise. This stock recently gapped down sharply from $8.75 to $6.92 a share with heavy downside volume. Following that gap down, shares of HALO have gone on to hit a recent low of $6.51 a share, which occurred right above its 200-day moving average at $6.53 share. Shares of HALO have now started to rebound off that recent lows and it's moving within range of triggering a near-term breakout trade.
If you're bullish on HALO, then I would look for long-biased trades as long as this stock is trending above some near-term support levels at $6.51 or $5.88 a share and then once it breaks out above some near-term overhead resistance levels at $7.32 to its 50-day at $7.41 a share high volume. Look for a sustained move or close above that level with volume that hits near or above its three-month average action of 1.44 million shares. If that breakout hits soon, then HALO will set up to re-fill some of its previous gap down zone that started at $8.75 a share. Any high-volume move above $8.75 will then give HALO a chance to tag its next major overhead resistance level at around $10 a share.