HC Wainwright Issues Positive Forecast for Halozyme Therapeutics (NASDAQ:HALO) Stock Price

Halozyme Therapeutics (NASDAQ:HALO) had its price target hoisted by research analysts at HC Wainwright from $65.00 to $68.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective points to a potential upside of 34.47% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. lowered shares of Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $52.00 to $57.00 in a research note on Thursday, September 19th. Cowen reaffirmed a “buy” rating on shares of Halozyme Therapeutics in a research report on Friday, October 18th. TD Cowen increased their target price on Halozyme Therapeutics from $59.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Morgan Stanley raised their target price on Halozyme Therapeutics from $59.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Finally, Benchmark reaffirmed a “buy” rating and issued a $60.00 price target on shares of Halozyme Therapeutics in a research note on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Halozyme Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $60.78.

Halozyme Therapeutics Price Performance

Halozyme Therapeutics stock opened at $50.57 on Friday. The company has a current ratio of 7.41, a quick ratio of 6.21 and a debt-to-equity ratio of 5.19. The business’s 50 day simple moving average is $57.32 and its 200 day simple moving average is $51.82. Halozyme Therapeutics has a 12 month low of $33.07 and a 12 month high of $65.53. The company has a market cap of $6.41 billion, a price-to-earnings ratio of 19.60, a PEG ratio of 0.49 and a beta of 1.27.

Halozyme Therapeutics (NASDAQ:HALO) last posted its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.73 by $0.18. The business had revenue of $231.40 million during the quarter, compared to analysts’ expectations of $204.94 million. Halozyme Therapeutics had a return on equity of 195.80% and a net margin of 38.62%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.68 earnings per share. Sell-side analysts forecast that Halozyme Therapeutics will post 3.71 EPS for the current year.

Insider Activity at Halozyme Therapeutics

In related news, CEO Helen Torley sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $59.20, for a total value of $592,000.00. Following the transaction, the chief executive officer now directly owns 676,744 shares of the company’s stock, valued at approximately $40,063,244.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Halozyme Therapeutics news, CEO Helen Torley sold 10,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $59.20, for a total value of $592,000.00. Following the completion of the transaction, the chief executive officer now owns 676,744 shares of the company’s stock, valued at approximately $40,063,244.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Matthew L. Posard sold 9,881 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $57.70, for a total transaction of $570,133.70. Following the transaction, the director now owns 69,874 shares in the company, valued at $4,031,729.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 89,881 shares of company stock valued at $5,169,834 over the last 90 days. Corporate insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Halozyme Therapeutics

A number of hedge funds have recently added to or reduced their stakes in HALO. TD Asset Management Inc increased its position in shares of Halozyme Therapeutics by 28.1% during the 1st quarter. TD Asset Management Inc now owns 2,541,266 shares of the biopharmaceutical company’s stock valued at $103,379,000 after purchasing an additional 557,350 shares during the last quarter. Boston Trust Walden Corp purchased a new stake in Halozyme Therapeutics during the second quarter valued at approximately $23,211,000. CANADA LIFE ASSURANCE Co raised its position in Halozyme Therapeutics by 29.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 130,856 shares of the biopharmaceutical company’s stock worth $5,321,000 after acquiring an additional 29,845 shares during the period. Swedbank AB purchased a new position in shares of Halozyme Therapeutics during the 1st quarter worth $13,927,000. Finally, Mizuho Markets Americas LLC grew its position in shares of Halozyme Therapeutics by 2.2% during the 1st quarter. Mizuho Markets Americas LLC now owns 456,636 shares of the biopharmaceutical company’s stock valued at $18,576,000 after acquiring an additional 9,975 shares during the period. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

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.