Benchmark Raises Halozyme Therapeutics (NASDAQ:HALO) Price Target to $60.00

Halozyme Therapeutics (NASDAQ:HALO) had its target price boosted by equities researchers at Benchmark from $50.00 to $60.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Benchmark’s price target would indicate a potential upside of 15.38% from the company’s previous close.

A number of other analysts have also recently weighed in on the company. JMP Securities decreased their price objective on Halozyme Therapeutics from $72.00 to $71.00 and set a “market outperform” rating for the company in a research report on Wednesday, May 8th. TD Cowen began coverage on Halozyme Therapeutics in a report on Thursday, February 29th. They issued an “outperform” rating and a $54.00 price target for the company. HC Wainwright reissued a “buy” rating and issued a $65.00 price target on shares of Halozyme Therapeutics in a report on Monday. Piper Sandler cut Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and raised their price target for the company from $48.00 to $51.00 in a report on Friday, June 7th. Finally, Wells Fargo & Company raised their price target on Halozyme Therapeutics from $48.00 to $58.00 and gave the company an “overweight” rating in a report on Friday, June 7th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $57.25.

Halozyme Therapeutics Trading Down 0.8 %

NASDAQ:HALO opened at $52.00 on Tuesday. The stock’s 50 day moving average price is $44.76 and its 200 day moving average price is $40.30. The company has a market capitalization of $6.62 billion, a PE ratio of 21.49, a P/E/G ratio of 0.53 and a beta of 1.28. The company has a quick ratio of 5.36, a current ratio of 6.64 and a debt-to-equity ratio of 8.44. Halozyme Therapeutics has a 52-week low of $32.83 and a 52-week high of $53.00.

Halozyme Therapeutics (NASDAQ:HALO) last released its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.07. The firm had revenue of $195.88 million for the quarter, compared to the consensus estimate of $201.72 million. Halozyme Therapeutics had a return on equity of 225.71% and a net margin of 36.94%. On average, research analysts anticipate that Halozyme Therapeutics will post 3.66 EPS for the current year.

Insider Buying and Selling

In related news, Director Matthew L. Posard sold 10,000 shares of Halozyme Therapeutics stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $50.01, for a total transaction of $500,100.00. Following the completion of the transaction, the director now directly owns 109,755 shares of the company’s stock, valued at $5,488,847.55. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders sold 30,000 shares of company stock valued at $1,338,800. 2.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Halozyme Therapeutics

Hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC purchased a new position in Halozyme Therapeutics during the fourth quarter worth $1,030,000. Harvey Capital Management Inc. purchased a new stake in shares of Halozyme Therapeutics in the fourth quarter valued at $5,918,000. Congress Asset Management Co. MA grew its position in shares of Halozyme Therapeutics by 16.2% in the first quarter. Congress Asset Management Co. MA now owns 407,867 shares of the biopharmaceutical company’s stock valued at $16,592,000 after purchasing an additional 56,791 shares during the period. Los Angeles Capital Management LLC grew its position in shares of Halozyme Therapeutics by 17.2% in the first quarter. Los Angeles Capital Management LLC now owns 121,000 shares of the biopharmaceutical company’s stock valued at $4,922,000 after purchasing an additional 17,716 shares during the period. Finally, Boston Partners grew its position in shares of Halozyme Therapeutics by 562.2% in the fourth quarter. Boston Partners now owns 552,392 shares of the biopharmaceutical company’s stock valued at $20,218,000 after purchasing an additional 468,977 shares during the period. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Halozyme Therapeutics Company Profile

Halozyme Therapeutics, Inc, a biopharma technology platform company, researches, develops, and commercializes proprietary enzymes and devices in the United States, Switzerland, Belgium, Japan, and internationally. The company's products are based on the patented recombinant human hyaluronidase enzyme (rHuPH20) that enables delivery of injectable biologics, such as monoclonal antibodies and other therapeutic molecules, as well as small molecules and fluids.