Halozyme Therapeutics (NASDAQ:HALO) Reaches New 12-Month High at $63.49

Halozyme Therapeutics, Inc. (NASDAQ:HALO) shares hit a new 52-week high on Tuesday . The stock traded as high as $63.49 and last traded at $63.30, with a volume of 341162 shares traded. The stock had previously closed at $62.16.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on HALO shares. Benchmark reaffirmed a “buy” rating and set a $60.00 price target on shares of Halozyme Therapeutics in a research report on Thursday, August 8th. TD Cowen increased their target price on shares of Halozyme Therapeutics from $59.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group increased their target price on shares of Halozyme Therapeutics from $44.00 to $49.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Morgan Stanley increased their target price on shares of Halozyme Therapeutics from $59.00 to $64.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company increased their target price on shares of Halozyme Therapeutics from $48.00 to $58.00 and gave the stock an “overweight” rating in a research note on Friday, June 7th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $59.44.

Halozyme Therapeutics Stock Performance

The company has a market cap of $8.04 billion, a price-to-earnings ratio of 26.12, a P/E/G ratio of 0.56 and a beta of 1.27. The company has a current ratio of 6.64, a quick ratio of 5.36 and a debt-to-equity ratio of 8.44. The stock’s fifty day simple moving average is $54.75 and its 200 day simple moving average is $46.15.

Halozyme Therapeutics (NASDAQ:HALO) last released its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.18. The company had revenue of $231.40 million during the quarter, compared to the consensus estimate of $204.94 million. Halozyme Therapeutics had a net margin of 36.94% and a return on equity of 225.71%. Halozyme Therapeutics’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.68 EPS. As a group, analysts anticipate that Halozyme Therapeutics, Inc. will post 3.66 earnings per share for the current year.

Insider Transactions at Halozyme Therapeutics

In other news, Director Matthew L. Posard sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $50.01, for a total transaction of $500,100.00. Following the completion of the sale, the director now owns 109,755 shares in the company, valued at approximately $5,488,847.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Matthew L. Posard sold 10,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $50.01, for a total value of $500,100.00. Following the completion of the sale, the director now owns 109,755 shares in the company, valued at approximately $5,488,847.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Nicole Labrosse sold 5,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $53.93, for a total transaction of $269,650.00. Following the completion of the sale, the chief financial officer now owns 15,480 shares of the company’s stock, valued at approximately $834,836.40. The disclosure for this sale can be found here. Insiders sold 64,881 shares of company stock worth $3,585,084 in the last 90 days. Insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Halozyme Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rise Advisors LLC purchased a new position in Halozyme Therapeutics in the 1st quarter valued at approximately $25,000. Whittier Trust Co. purchased a new position in Halozyme Therapeutics in the 1st quarter valued at approximately $27,000. GAMMA Investing LLC boosted its position in Halozyme Therapeutics by 96.6% in the 2nd quarter. GAMMA Investing LLC now owns 517 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 254 shares during the period. International Assets Investment Management LLC purchased a new position in Halozyme Therapeutics in the 2nd quarter valued at approximately $33,000. Finally, Principal Securities Inc. purchased a new stake in shares of Halozyme Therapeutics during the 4th quarter worth $34,000. 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.