Halozyme Therapeutics’ (HALO) Buy Rating Reiterated at HC Wainwright

Halozyme Therapeutics (NASDAQ:HALO)‘s stock had its “buy” rating restated by HC Wainwright in a report issued on Thursday, Benzinga reports. They presently have a $65.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s target price indicates a potential upside of 17.75% from the stock’s previous close.

HALO has been the topic of several other research reports. Morgan Stanley raised their price objective on Halozyme Therapeutics from $59.00 to $64.00 and gave the stock an “overweight” rating in a report on Wednesday. Wells Fargo & Company increased their target price on Halozyme Therapeutics from $48.00 to $58.00 and gave the stock an “overweight” rating in a research report on Friday, June 7th. JMP Securities cut their target price on Halozyme Therapeutics from $72.00 to $71.00 and set a “market outperform” rating on the stock in a research report on Wednesday, May 8th. Benchmark raised their price objective on Halozyme Therapeutics from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Finally, JPMorgan Chase & Co. cut their price objective on Halozyme Therapeutics from $53.00 to $52.00 and set an “overweight” rating on the stock in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Halozyme Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.44.

Halozyme Therapeutics Price Performance

NASDAQ:HALO traded up $0.74 during trading hours on Thursday, reaching $55.20. 827,455 shares of the company traded hands, compared to its average volume of 1,252,118. The firm’s 50-day moving average is $52.29 and its 200-day moving average is $44.10. The stock has a market cap of $7.03 billion, a P/E ratio of 22.81, a P/E/G ratio of 0.56 and a beta of 1.27. The company has a debt-to-equity ratio of 8.44, a current ratio of 6.64 and a quick ratio of 5.36. Halozyme Therapeutics has a 1-year low of $32.83 and a 1-year high of $57.08.

Halozyme Therapeutics (NASDAQ:HALO) last announced its earnings results 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 firm had revenue of $231.40 million for the quarter, compared to analysts’ expectations of $204.94 million. Halozyme Therapeutics had a return on equity of 225.71% and a net margin of 36.94%. 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. Equities research analysts expect that Halozyme Therapeutics will post 3.66 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Michael J. Labarre sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $45.38, for a total transaction of $453,800.00. Following the completion of the sale, the senior vice president now directly owns 168,176 shares in the company, valued at $7,631,826.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Michael J. Labarre sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $45.38, for a total transaction of $453,800.00. Following the completion of the sale, the senior vice president now directly owns 168,176 shares in the company, valued at $7,631,826.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Nicole Labrosse sold 5,000 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $53.93, for a total value of $269,650.00. Following the sale, the chief financial officer now owns 15,480 shares of the company’s stock, valued at $834,836.40. The disclosure for this sale can be found here. Insiders sold 45,000 shares of company stock worth $2,294,050 over the last ninety days. Corporate insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Halozyme Therapeutics

A number of hedge funds have recently bought and sold shares of the company. Mutual of America Capital Management LLC grew its stake in Halozyme Therapeutics by 31.1% in the second quarter. Mutual of America Capital Management LLC now owns 183,941 shares of the biopharmaceutical company’s stock worth $9,631,000 after purchasing an additional 43,614 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Halozyme Therapeutics by 12.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,897,759 shares of the biopharmaceutical company’s stock worth $99,363,000 after purchasing an additional 209,530 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Halozyme Therapeutics by 4.9% in the second quarter. Envestnet Asset Management Inc. now owns 229,620 shares of the biopharmaceutical company’s stock worth $12,023,000 after purchasing an additional 10,651 shares in the last quarter. O Neil Global Advisors Inc. acquired a new position in Halozyme Therapeutics in the second quarter worth about $249,000. Finally, Federated Hermes Inc. grew its stake in Halozyme Therapeutics by 37.8% in the second quarter. Federated Hermes Inc. now owns 696,131 shares of the biopharmaceutical company’s stock worth $36,449,000 after purchasing an additional 191,030 shares in the last quarter. 97.79% of the stock is currently owned by institutional investors and hedge funds.

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.