4 Biotech Stocks Making Big Moves
Friday’s trading session is seeing some incredible surges in several heavily traded biotechnology companies. Halozyme Therapeutics (NASDAQ:HALO), Intercept Pharmaceuticals (NASDAQ:ICPT), Keryx Biopharmaceuticals (NASDAQ:KERX), and Pacific Biosciences of California (NASDAQ:PACB) are the stocks in focus.
Halozyme Therapeutics is a biopharmaceutical company developing and commercializing products targeting the extracellular matrix for the diabetes, oncology, dermatology, and drug delivery markets. The company’s product portfolio is primarily based on intellectual property covering the family of human enzymes known as hyaluronidases and additional enzymes that affect the extracellular matrix. Halozyme is using its proprietary product candidates to build a diversified pipeline capable of treating several indications. The company is also collaborating with several prominent biotechnology firms such as Roche, Pfizer (NYSE:PFE), and Baxter (NYSE:BAX).
Shares of Halozyme have been soaring over the past few weeks since the new CEO, Helen Torley, came on board. Because of Torley’s experience in helping Onyx Pharmaceuticals (NASDAQ:ONXX) obtain a buyout, many investors and traders have been speculating that she can do the same for Halozyme. But based on the company’s potential, a suitor may have to really open up the checkbook to acquire this up-and-comer. Shares of Halozyme have risen by more than 11 percent during the past three trading sessions.