Halozyme Therapeutics (NASDAQ:HALO) Given New $73.00 Price Target at JMP Securities

Halozyme Therapeutics (NASDAQ:HALO) had its target price raised by research analysts at JMP Securities from $72.00 to $73.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “market outperform” rating on the biopharmaceutical company’s stock. JMP Securities’ target price points to a potential upside of 27.73% from the company’s current price.

Other research analysts also recently issued research reports about the company. Morgan Stanley boosted their target price on Halozyme Therapeutics from $59.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. HC Wainwright boosted their target price on Halozyme Therapeutics from $65.00 to $68.00 and gave the company a “buy” rating in a research note on Friday. JPMorgan Chase & Co. downgraded Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $52.00 to $57.00 in a research note on Thursday, September 19th. Benchmark reiterated a “buy” rating and set a $60.00 price target on shares of Halozyme Therapeutics in a research note on Thursday, August 8th. Finally, The Goldman Sachs Group upped their price target on Halozyme Therapeutics from $44.00 to $49.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $61.00.

Halozyme Therapeutics Stock Up 13.0 %

Shares of Halozyme Therapeutics stock opened at $57.15 on Friday. The stock’s fifty day moving average is $56.99 and its 200-day moving average is $52.04. The firm has a market capitalization of $7.24 billion, a PE ratio of 18.92, a price-to-earnings-growth ratio of 0.49 and a beta of 1.29. The company has a quick ratio of 6.21, a current ratio of 7.41 and a debt-to-equity ratio of 5.19. Halozyme Therapeutics has a 12-month low of $33.15 and a 12-month high of $65.53.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly 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 245.66% and a net margin of 41.43%. The business had revenue of $231.40 million for the quarter, compared to the consensus estimate of $204.94 million. During the same quarter in the previous year, the company posted $0.68 earnings per share. Halozyme Therapeutics’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities analysts anticipate that Halozyme Therapeutics will post 3.71 earnings per share for the current year.

Insider Buying and Selling at Halozyme Therapeutics

In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $53.26, for a total value of $532,600.00. Following the completion of the transaction, the senior vice president now owns 173,756 shares of the company’s stock, valued at $9,254,244.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Matthew L. Posard sold 9,881 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $57.70, for a total value of $570,133.70. Following the sale, the director now directly owns 69,874 shares in the company, valued at approximately $4,031,729.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Michael J. Labarre sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $53.26, for a total value of $532,600.00. Following the completion of the sale, the senior vice president now owns 173,756 shares in the company, valued at approximately $9,254,244.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,881 shares of company stock valued at $5,169,834 in the last quarter. Corporate insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Halozyme Therapeutics

A number of large investors have recently bought and sold shares of the business. TD Asset Management Inc grew its position in Halozyme Therapeutics by 28.1% during the 1st quarter. TD Asset Management Inc now owns 2,541,266 shares of the biopharmaceutical company’s stock worth $103,379,000 after acquiring an additional 557,350 shares during the last quarter. Congress Asset Management Co. boosted its position in Halozyme Therapeutics by 446.5% in the 3rd quarter. Congress Asset Management Co. now owns 2,433,579 shares of the biopharmaceutical company’s stock valued at $139,298,000 after buying an additional 1,988,238 shares during the last quarter. Handelsbanken Fonder AB boosted its position in Halozyme Therapeutics by 76.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 1,969,169 shares of the biopharmaceutical company’s stock valued at $112,715,000 after buying an additional 856,200 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Halozyme Therapeutics by 12.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,897,759 shares of the biopharmaceutical company’s stock valued at $99,363,000 after buying an additional 209,530 shares during the last quarter. Finally, Epoch Investment Partners Inc. boosted its position in Halozyme Therapeutics by 23.3% in the 1st quarter. Epoch Investment Partners Inc. now owns 1,433,612 shares of the biopharmaceutical company’s stock valued at $58,319,000 after buying an additional 270,579 shares during the last quarter. 97.79% of the stock is currently owned by institutional investors.

About Halozyme Therapeutics

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.