Halozyme Therapeutics (NASDAQ:HALO) Shares Gap Up – Time to Buy?

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.

Analysts Set New Price Targets

A number of equities analysts have issued reports on HALO shares. Piper Sandler boosted their price objective on shares of Halozyme Therapeutics from $52.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday. JMP Securities increased their target price on Halozyme Therapeutics from $72.00 to $73.00 and gave the stock a “market outperform” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. cut shares of Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $52.00 to $57.00 in a research report on Thursday, September 19th. Cowen reissued a “buy” rating on shares of Halozyme Therapeutics in a report on Friday, October 18th. Finally, HC Wainwright increased their price target on shares of Halozyme Therapeutics from $68.00 to $70.00 and gave the company a “buy” rating in a report on Friday. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $61.44.

Halozyme Therapeutics Price Performance

The company has a debt-to-equity ratio of 3.32, a quick ratio of 9.15 and a current ratio of 10.36. The company has a market cap of $6.73 billion, a P/E ratio of 17.51, a P/E/G ratio of 0.44 and a beta of 1.24. The firm’s fifty day moving average is $50.23 and its two-hundred day moving average is $54.00.

Insider Transactions 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 transaction of $532,600.00. Following the sale, the senior vice president now directly owns 173,756 shares in the company, valued at $9,254,244.56. This represents a 5.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of HALO. Skandinaviska Enskilda Banken AB publ purchased a new position in Halozyme Therapeutics during the 2nd quarter worth $49,000. GAMMA Investing LLC grew its position 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 buying an additional 350 shares in the last quarter. Toth Financial Advisory Corp bought a new stake in shares of Halozyme Therapeutics in the third quarter valued at about $57,000. FSC Wealth Advisors LLC purchased a new stake in Halozyme Therapeutics in the third quarter worth about $65,000. Finally, Park Place Capital Corp grew its holdings in Halozyme Therapeutics by 828.1% during the 3rd quarter. Park Place Capital Corp now owns 1,355 shares of the biopharmaceutical company’s stock worth $78,000 after acquiring an additional 1,209 shares in the last quarter. 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.