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.
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