Halozyme Therapeutics (NASDAQ:HALO) Receives Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Halozyme Therapeutics (NASDAQ:HALO) in a report released on Friday, Benzinga reports. The firm currently has a $65.00 price objective on the biopharmaceutical company’s stock.

Several other research firms have also issued reports on HALO. Morgan Stanley raised their price objective on Halozyme Therapeutics from $59.00 to $64.00 and gave the company an overweight rating in a research note on Wednesday, August 7th. Benchmark reaffirmed a buy rating and set a $60.00 price objective on shares of Halozyme Therapeutics in a research note on Thursday, August 8th. Wells Fargo & Company increased their target price on shares of Halozyme Therapeutics from $48.00 to $58.00 and gave the company an overweight rating in a research note on Friday, June 7th. JPMorgan Chase & Co. lowered shares of Halozyme Therapeutics from an overweight rating to a neutral rating and raised their target price for the stock from $52.00 to $57.00 in a report on Thursday, September 19th. Finally, TD Cowen upped their price target on shares of Halozyme Therapeutics from $59.00 to $65.00 and gave the company a buy rating in a report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Halozyme Therapeutics presently has a consensus rating of Moderate Buy and an average target price of $60.44.

Halozyme Therapeutics Trading Down 9.0 %

Shares of Halozyme Therapeutics stock opened at $53.85 on Friday. The stock has a market capitalization of $6.85 billion, a P/E ratio of 22.25, a P/E/G ratio of 0.56 and a beta of 1.27. Halozyme Therapeutics has a 52-week low of $32.83 and a 52-week high of $65.53. The company has a debt-to-equity ratio of 5.19, a quick ratio of 6.21 and a current ratio of 7.41. The stock’s 50-day simple moving average is $58.93 and its 200 day simple moving average is $50.51.

Halozyme Therapeutics (NASDAQ:HALO) last posted its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.18. Halozyme Therapeutics had a return on equity of 195.80% and a net margin of 38.62%. The business had revenue of $231.40 million during the quarter, compared to analyst estimates of $204.94 million. During the same quarter in the previous year, the firm earned $0.68 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, research analysts anticipate that Halozyme Therapeutics will post 3.71 EPS for the current year.

Insider Transactions at Halozyme Therapeutics

In other Halozyme Therapeutics news, CEO Helen Torley sold 10,000 shares of Halozyme Therapeutics stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $59.20, for a total value of $592,000.00. Following the completion of the transaction, the chief executive officer now directly owns 676,744 shares of the company’s stock, valued at $40,063,244.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Helen Torley sold 10,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $59.20, for a total value of $592,000.00. Following the completion of the transaction, the chief executive officer now owns 676,744 shares in the company, valued at $40,063,244.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Nicole Labrosse sold 5,000 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $53.93, for a total value of $269,650.00. Following the completion of the sale, the chief financial officer now owns 15,480 shares in the company, valued at approximately $834,836.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 84,881 shares of company stock worth $4,932,284. 2.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. TD Asset Management Inc raised its holdings in Halozyme Therapeutics by 28.1% during the first quarter. TD Asset Management Inc now owns 2,541,266 shares of the biopharmaceutical company’s stock worth $103,379,000 after purchasing an additional 557,350 shares in the last quarter. Congress Asset Management Co. MA lifted its holdings in shares of Halozyme Therapeutics by 16.2% in the 1st quarter. Congress Asset Management Co. MA now owns 407,867 shares of the biopharmaceutical company’s stock valued at $16,592,000 after buying an additional 56,791 shares during the period. Boston Trust Walden Corp purchased a new stake in shares of Halozyme Therapeutics in the second quarter valued at approximately $23,211,000. Los Angeles Capital Management LLC grew its holdings in Halozyme Therapeutics by 17.2% during the first quarter. Los Angeles Capital Management LLC now owns 121,000 shares of the biopharmaceutical company’s stock worth $4,922,000 after acquiring an additional 17,716 shares during the period. Finally, Norden Group LLC grew its holdings in Halozyme Therapeutics by 1,817.3% during the first quarter. Norden Group LLC now owns 167,284 shares of the biopharmaceutical company’s stock worth $6,805,000 after acquiring an additional 158,559 shares during the period. 97.79% of the stock is owned by hedge funds and other institutional investors.

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.