SVB Securities Lowers Halozyme Therapeutics (NASDAQ:HALO) to Market Perform

SVB Securities cut shares of Halozyme Therapeutics (NASDAQ:HALO – Get Rating) from an outperform rating to a market perform rating in a research report released on Thursday, The Fly reports. SVB Securities currently has $42.00 price target on the biopharmaceutical company’s stock.

Other equities research analysts have also issued research reports about the company. Wells Fargo & Company dropped their price objective on Halozyme Therapeutics from $65.00 to $55.00 and set an overweight rating for the company in a research note on Thursday. JPMorgan Chase & Co. dropped their price objective on Halozyme Therapeutics from $54.00 to $52.00 and set an overweight rating for the company in a research note on Thursday, February 23rd. JMP Securities restated a market outperform rating and set a $66.00 price target (up previously from $62.00) on shares of Halozyme Therapeutics in a research report on Wednesday, February 22nd. Benchmark raised their price target on Halozyme Therapeutics from $55.00 to $68.00 and gave the company a buy rating in a research report on Thursday, December 8th. Finally, Morgan Stanley lowered their price target on Halozyme Therapeutics from $65.00 to $64.00 and set an overweight rating on the stock in a research report on Monday, March 6th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $56.13.

Halozyme Therapeutics Price Performance

NASDAQ:HALO opened at $33.08 on Thursday. The firm has a market capitalization of $4.48 billion, a price-to-earnings ratio of 22.81, a P/E/G ratio of 0.47 and a beta of 1.26. Halozyme Therapeutics has a 52-week low of $32.93 and a 52-week high of $59.46. The stock has a fifty day moving average of $48.67 and a 200 day moving average of $48.74. The company has a debt-to-equity ratio of 8.79, a quick ratio of 4.88 and a current ratio of 5.65.

Insider Transactions at Halozyme Therapeutics

In other news, SVP Michael J. Labarre sold 10,000 shares of Halozyme Therapeutics stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $50.46, for a total value of $504,600.00. Following the transaction, the senior vice president now owns 143,137 shares in the company, valued at $7,222,693.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, SVP Michael J. Labarre sold 10,000 shares of the business’s stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $50.46, for a total transaction of $504,600.00. Following the transaction, the senior vice president now owns 143,137 shares in the company, valued at approximately $7,222,693.02. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Nicole Labrosse sold 2,525 shares of the business’s stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $49.26, for a total value of $124,381.50. Following the transaction, the chief financial officer now owns 9,066 shares in the company, valued at approximately $446,591.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 93,586 shares of company stock worth $4,550,046. Company insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Financial Gravity Asset Management Inc. purchased a new position in Halozyme Therapeutics during the 3rd quarter valued at about $2,220,000. Brown Brothers Harriman & Co. purchased a new position in Halozyme Therapeutics during the 2nd quarter valued at about $35,000. Belpointe Asset Management LLC bought a new stake in Halozyme Therapeutics during the 4th quarter valued at approximately $50,000. Harbour Investments Inc. bought a new stake in Halozyme Therapeutics during the 4th quarter valued at approximately $51,000. Finally, Quadrant Capital Group LLC boosted its position in Halozyme Therapeutics by 111.5% during the 4th quarter. Quadrant Capital Group LLC now owns 960 shares of the biopharmaceutical company’s stock valued at $55,000 after acquiring an additional 506 shares in the last quarter. Hedge funds and other institutional investors own 96.32% of the company’s stock.

About Halozyme Therapeutics

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Halozyme Therapeutics, Inc operates as a biopharma technology platform company in the United States, Switzerland, Ireland, Belgium, Japan, and internationally. The company's products are based on the ENHANZE drug delivery technology, a patented recombinant human hyaluronidase enzyme (rHuPH20) that enables the subcutaneous delivery of injectable biologics, such as monoclonal antibodies and other therapeutic molecules, as well as small molecules and fluids.