Halozyme Therapeutics (NASDAQ:HALO) Given Buy Rating at HC Wainwright

Halozyme Therapeutics (NASDAQ:HALO)‘s stock had its “buy” rating restated by HC Wainwright in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $68.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s target price points to a potential upside of 51.92% from the company’s current price.

Several other brokerages also recently weighed in on HALO. Wells Fargo & Company downgraded Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $58.00 to $62.00 in a research report on Monday, October 7th. TD Cowen lifted their price target on Halozyme Therapeutics from $59.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. JMP Securities upped their price target on Halozyme Therapeutics from $72.00 to $73.00 and gave the company a “market outperform” rating in a research report on Friday, November 1st. Cowen reaffirmed a “buy” rating on shares of Halozyme Therapeutics in a report on Friday, October 18th. Finally, Morgan Stanley lifted their price target on shares of Halozyme Therapeutics from $59.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $61.11.

Halozyme Therapeutics Trading Down 0.1 %

Shares of HALO stock traded down $0.05 during mid-day trading on Wednesday, reaching $44.76. The company’s stock had a trading volume of 178,548 shares, compared to its average volume of 1,347,556. The company’s 50 day simple moving average is $55.42 and its 200-day simple moving average is $53.53. The company has a quick ratio of 9.15, a current ratio of 10.36 and a debt-to-equity ratio of 3.32. Halozyme Therapeutics has a 12-month low of $33.15 and a 12-month high of $65.53. The firm has a market capitalization of $5.69 billion, a PE ratio of 14.77, a price-to-earnings-growth ratio of 0.42 and a beta of 1.29.

Insider Activity

In related news, CEO Helen Torley sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $59.09, for a total transaction of $590,900.00. Following the completion of the sale, the chief executive officer now directly owns 676,744 shares of the company’s stock, valued at $39,988,802.96. This represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 60,000 shares of company stock worth $3,425,000 over the last 90 days. 2.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. M&T Bank Corp boosted its position in shares of Halozyme Therapeutics by 0.5% in the 3rd quarter. M&T Bank Corp now owns 111,239 shares of the biopharmaceutical company’s stock valued at $6,367,000 after purchasing an additional 561 shares during the period. Chiron Investment Management LLC grew its stake in shares of Halozyme Therapeutics by 23.6% in the 3rd quarter. Chiron Investment Management LLC now owns 23,502 shares of the biopharmaceutical company’s stock valued at $1,345,000 after buying an additional 4,491 shares in the last quarter. Coldstream Capital Management Inc. increased its holdings in Halozyme Therapeutics by 34.7% in the third quarter. Coldstream Capital Management Inc. now owns 9,251 shares of the biopharmaceutical company’s stock worth $534,000 after buying an additional 2,384 shares during the last quarter. Geode Capital Management LLC raised its position in Halozyme Therapeutics by 1.0% during the third quarter. Geode Capital Management LLC now owns 3,060,131 shares of the biopharmaceutical company’s stock valued at $175,194,000 after acquiring an additional 30,901 shares in the last quarter. Finally, MML Investors Services LLC lifted its stake in Halozyme Therapeutics by 80.7% in the third quarter. MML Investors Services LLC now owns 9,779 shares of the biopharmaceutical company’s stock valued at $560,000 after acquiring an additional 4,366 shares during the last quarter. 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.