Halozyme Therapeutics (NASDAQ:HALO) Shares Gap Up – Should You Buy?

Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) gapped up before the market opened on Wednesday . The stock had previously closed at $51.19, but opened at $54.12. Halozyme Therapeutics shares last traded at $53.63, with a volume of 430,580 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have commented on HALO. JMP Securities boosted their target price on shares of Halozyme Therapeutics from $72.00 to $73.00 and gave the stock a “market outperform” rating in a report on Friday, November 1st. JPMorgan Chase & Co. cut Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $52.00 to $57.00 in a research report on Thursday, September 19th. Wells Fargo & Company downgraded Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $58.00 to $62.00 in a report on Monday, October 7th. Cowen restated a “buy” rating on shares of Halozyme Therapeutics in a research note on Friday, October 18th. Finally, HC Wainwright boosted their price target on Halozyme Therapeutics from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Friday. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $61.44.

Halozyme Therapeutics Stock Performance

The company has a quick ratio of 9.15, a current ratio of 10.36 and a debt-to-equity ratio of 3.32. The firm has a 50-day moving average of $50.23 and a two-hundred day moving average of $54.00. The company has a market capitalization of $6.73 billion, a PE ratio of 17.51, a PEG ratio of 0.44 and a beta of 1.24.

Insider Activity at Halozyme Therapeutics

In related news, SVP Michael J. Labarre sold 10,000 shares of Halozyme Therapeutics stock in a transaction 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 sale, the senior vice president now owns 173,756 shares of the company’s stock, valued at approximately $9,254,244.56. This trade represents a 5.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.70% of the company’s stock.

Institutional Trading of Halozyme Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Verdence Capital Advisors LLC lifted its holdings in Halozyme Therapeutics by 1.9% in the 3rd quarter. Verdence Capital Advisors LLC now owns 13,232 shares of the biopharmaceutical company’s stock valued at $757,000 after purchasing an additional 252 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Halozyme Therapeutics by 67.7% during the 3rd quarter. GAMMA Investing LLC now owns 867 shares of the biopharmaceutical company’s stock worth $50,000 after purchasing an additional 350 shares during the last quarter. Private Advisor Group LLC grew its position in shares of Halozyme Therapeutics by 1.8% in the second quarter. Private Advisor Group LLC now owns 22,753 shares of the biopharmaceutical company’s stock valued at $1,191,000 after purchasing an additional 412 shares in the last quarter. Juncture Wealth Strategies LLC increased its holdings in shares of Halozyme Therapeutics by 3.6% in the third quarter. Juncture Wealth Strategies LLC now owns 12,058 shares of the biopharmaceutical company’s stock valued at $690,000 after purchasing an additional 415 shares during the last quarter. Finally, Diversify Advisory Services LLC lifted its position in Halozyme Therapeutics by 8.5% during the third quarter. Diversify Advisory Services LLC now owns 5,331 shares of the biopharmaceutical company’s stock worth $305,000 after buying an additional 418 shares in the last quarter. 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.