Halozyme Therapeutics (NASDAQ:HALO) Hits New 1-Year High at $57.21

Halozyme Therapeutics, Inc. (NASDAQ:HALO)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $57.21 and last traded at $57.21, with a volume of 2073 shares changing hands. The stock had previously closed at $56.23.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on HALO shares. HC Wainwright reiterated a “buy” rating and issued a $65.00 price objective on shares of Halozyme Therapeutics in a report on Tuesday, July 16th. Wells Fargo & Company lifted their price target on Halozyme Therapeutics from $48.00 to $58.00 and gave the stock an “overweight” rating in a report on Friday, June 7th. Benchmark boosted their target price on shares of Halozyme Therapeutics from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. JMP Securities lowered their target price on shares of Halozyme Therapeutics from $72.00 to $71.00 and set a “market outperform” rating on the stock in a report on Wednesday, May 8th. Finally, The Goldman Sachs Group boosted their price target on Halozyme Therapeutics from $44.00 to $49.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $58.38.

Halozyme Therapeutics Stock Performance

The company has a market cap of $7.17 billion, a price-to-earnings ratio of 23.24, a P/E/G ratio of 0.57 and a beta of 1.27. The company has a debt-to-equity ratio of 8.44, a quick ratio of 5.36 and a current ratio of 6.64. The company has a fifty day moving average of $50.25 and a two-hundred day moving average of $42.79.

Halozyme Therapeutics (NASDAQ:HALO) last released its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.07. Halozyme Therapeutics had a return on equity of 225.71% and a net margin of 36.94%. The company had revenue of $195.88 million for the quarter, compared to analysts’ expectations of $201.72 million. Equities research analysts anticipate that Halozyme Therapeutics, Inc. will post 3.66 EPS for the current year.

Insider Activity at Halozyme Therapeutics

In other Halozyme Therapeutics news, Director Matthew L. Posard sold 10,000 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $50.01, for a total value of $500,100.00. Following the sale, the director now owns 109,755 shares in the company, valued at approximately $5,488,847.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Matthew L. Posard sold 10,000 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $50.01, for a total value of $500,100.00. Following the transaction, the director now owns 109,755 shares in the company, valued at $5,488,847.55. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Nicole Labrosse sold 5,000 shares of Halozyme Therapeutics stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $53.93, for a total value of $269,650.00. Following the completion of the transaction, the chief financial officer now directly 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 three months. Company insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Halozyme Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its position in shares of Halozyme Therapeutics by 96.6% during the 2nd quarter. GAMMA Investing LLC now owns 517 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 254 shares during the period. Rise Advisors LLC acquired a new stake in Halozyme Therapeutics in the first quarter worth $25,000. Whittier Trust Co. bought a new stake in Halozyme Therapeutics in the first quarter valued at $27,000. Principal Securities Inc. acquired a new position in shares of Halozyme Therapeutics during the fourth quarter valued at about $34,000. Finally, Fidelis Capital Partners LLC bought a new position in shares of Halozyme Therapeutics during the 1st quarter worth about $52,000. 97.79% of the stock is owned by institutional investors and hedge funds.

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.