Halozyme Therapeutics, Inc. (NASDAQ: HALO)
Halozyme Therapeutics is looking great in pre-market trading today. In fact, the stock is up in a big way after the company released what looks like positive data. However, many experts, including Adam Feuerstein, are expecting to see a big drop when the opening bell rings. Below, we'll talk about what we're seeing in the market, why, and what we'll be watching for with regard to HALO ahead.
What We're Seeing From HALO
As mentioned above, Halozyme Therapeutics looks like it's going to have an incredible time in the market today. In pre-market trading, the stock is climbing dramatically. At the moment (8:56), HALO is trading at $12.33 per share after a gain of $1.64 per share (15.34%) thus far today.
Why The Stock Is Up & Are Declines Really Coming?
As usual, our partners at Trade Ideas were the first to inform us of the gains on HALO. As soon as they did, the CNA Finance team started digging to see exactly what was going on. In this case, we were able to dig it up quickly. Ultimately, the gains have to do with a press release surrounding a clinical study that seemed to be overwhelmingly positive.
The press release, titled Halozyme Announces Phase 2 Study In Advanced Pancreas Cancer Meets Key Endpoints, was overwhelmingly positive, leading to positive investor opinions. However, several top level experts are calling the data one-sided. In fact, Adam Feuerstein released a tweet calling the company out for “shameful conduct” and pointing out that the press release omits quite a bit. Here's what he said in his Tweet...
$HALO Shameful conduct this morning. Press release cherry picks single, most positive data point, omits everything else less so.— Adam Feuerstein (@adamfeuerstein) January 5, 2017
What We'll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on HALO. In particular, after reading the press release, we have to agree with Feuerstein, which I'm not to excited about to be honest. However, in this case, he is right. So, we'll be looking for further data associated with the trial as the experts continue to push the company for transparency.
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