HC Wainwright Reaffirms Buy Rating for Halozyme Therapeutics (NASDAQ:HALO)

HC Wainwright reiterated their buy rating on shares of Halozyme Therapeutics (NASDAQ:HALO) in a report published on Wednesday, Benzinga reports. They currently have a $50.00 price objective on the biopharmaceutical company’s stock.

A number of other research firms have also issued reports on HALO. TheStreet lowered shares of Halozyme Therapeutics from a b- rating to a c+ rating in a research report on Monday, January 22nd. The Goldman Sachs Group decreased their target price on shares of Halozyme Therapeutics from $45.00 to $40.00 and set a neutral rating for the company in a research note on Thursday, January 18th. Benchmark reaffirmed a buy rating and issued a $50.00 price target on shares of Halozyme Therapeutics in a research note on Tuesday. Morgan Stanley cut their price objective on Halozyme Therapeutics from $61.00 to $59.00 and set an overweight rating for the company in a report on Tuesday, December 26th. Finally, TD Cowen began coverage on Halozyme Therapeutics in a research note on Thursday, February 29th. They issued an outperform rating and a $54.00 target price on the stock. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Halozyme Therapeutics has an average rating of Moderate Buy and an average price target of $53.29.

Halozyme Therapeutics Trading Up 2.2 %

NASDAQ HALO opened at $38.64 on Wednesday. The firm’s 50 day moving average price is $39.56 and its two-hundred day moving average price is $37.77. The company has a debt-to-equity ratio of 17.89, a quick ratio of 5.50 and a current ratio of 6.64. Halozyme Therapeutics has a twelve month low of $29.85 and a twelve month high of $45.00. The stock has a market cap of $4.91 billion, a price-to-earnings ratio of 18.31, a PEG ratio of 0.44 and a beta of 1.25.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings results on Tuesday, February 20th. The biopharmaceutical company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.02). The business had revenue of $230.04 million for the quarter, compared to analysts’ expectations of $235.25 million. Halozyme Therapeutics had a net margin of 33.96% and a return on equity of 248.20%. Equities analysts anticipate that Halozyme Therapeutics will post 3.45 EPS for the current year.

Insider Transactions at Halozyme Therapeutics

In related news, SVP Michael J. Labarre sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $41.64, for a total value of $416,400.00. Following the transaction, the senior vice president now directly owns 156,558 shares of the company’s stock, valued at approximately $6,519,075.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders sold 30,000 shares of company stock worth $1,196,800. 2.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Halozyme Therapeutics

A number of institutional investors have recently modified their holdings of the company. Harvey Capital Management Inc. bought a new position in Halozyme Therapeutics in the 4th quarter worth $5,918,000. Hsbc Holdings PLC lifted its position in shares of Halozyme Therapeutics by 35.0% during the 3rd quarter. Hsbc Holdings PLC now owns 78,404 shares of the biopharmaceutical company’s stock worth $3,006,000 after purchasing an additional 20,346 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Halozyme Therapeutics by 174.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 887,274 shares of the biopharmaceutical company’s stock valued at $33,894,000 after purchasing an additional 563,989 shares during the period. Aurora Investment Counsel acquired a new stake in Halozyme Therapeutics in the 3rd quarter valued at approximately $1,347,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in Halozyme Therapeutics in the 3rd quarter worth approximately $591,000. Institutional investors own 97.79% of the company’s stock.

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.