Halozyme Therapeutics (NASDAQ:HALO) Lowered to “Equal Weight” at Wells Fargo & Company

Wells Fargo & Company downgraded shares of Halozyme Therapeutics (NASDAQ:HALO) from an overweight rating to an equal weight rating in a research note released on Monday, MarketBeat Ratings reports. They currently have $62.00 price target on the biopharmaceutical company’s stock, up from their previous price target of $58.00.

Other equities research analysts have also issued research reports about the stock. TD Cowen upped their target price on shares of Halozyme Therapeutics from $59.00 to $65.00 and gave the stock a buy rating in a report on Wednesday, August 7th. Benchmark reaffirmed a buy rating and set a $60.00 target price on shares of Halozyme Therapeutics in a report on Thursday, August 8th. The Goldman Sachs Group upped their target price on shares of Halozyme Therapeutics from $44.00 to $49.00 and gave the stock a neutral rating in a report on Monday, July 22nd. Morgan Stanley upped their target price on shares of Halozyme Therapeutics from $59.00 to $64.00 and gave the stock an overweight rating in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. lowered shares of Halozyme Therapeutics from an overweight rating to a neutral rating and upped their price objective for the company from $52.00 to $57.00 in a report on Thursday, September 19th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $60.44.

Halozyme Therapeutics Price Performance

Shares of NASDAQ HALO opened at $52.13 on Monday. The firm has a market cap of $6.63 billion, a PE ratio of 21.54, a PEG ratio of 0.56 and a beta of 1.27. The firm has a fifty day moving average of $58.75 and a 200 day moving average of $50.62. The company has a debt-to-equity ratio of 5.19, a quick ratio of 6.21 and a current ratio of 7.41. Halozyme Therapeutics has a one year low of $32.83 and a one year high of $65.53.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly 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 company had revenue of $231.40 million during the quarter, compared to analyst estimates of $204.94 million. Halozyme Therapeutics had a net margin of 38.62% and a return on equity of 195.80%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 EPS. As a group, research analysts predict that Halozyme Therapeutics will post 3.71 EPS for the current fiscal year.

Insider Activity at Halozyme Therapeutics

In other Halozyme Therapeutics news, CFO Nicole Labrosse sold 5,000 shares of the company’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 transaction, the chief financial officer now owns 15,480 shares of the company’s stock, valued at $834,836.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Halozyme Therapeutics news, CFO Nicole Labrosse sold 5,000 shares of the company’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 transaction, the chief financial officer now owns 15,480 shares of the company’s stock, valued at $834,836.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Michael J. Labarre sold 10,000 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $55.12, for a total transaction of $551,200.00. Following the completion of the transaction, the senior vice president now directly owns 168,176 shares in the company, valued at $9,269,861.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 94,881 shares of company stock valued at $5,458,084. 2.40% of the stock is owned by company insiders.

Institutional Trading of Halozyme Therapeutics

Several hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC lifted its position in shares of Halozyme Therapeutics by 96.6% during the second quarter. GAMMA Investing LLC now owns 517 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 254 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Halozyme Therapeutics by 2.4% during the second quarter. Fifth Third Bancorp now owns 11,206 shares of the biopharmaceutical company’s stock worth $587,000 after purchasing an additional 261 shares in the last quarter. FCF Advisors LLC lifted its position in shares of Halozyme Therapeutics by 1.9% during the first quarter. FCF Advisors LLC now owns 21,164 shares of the biopharmaceutical company’s stock worth $861,000 after purchasing an additional 391 shares in the last quarter. Private Advisor Group LLC lifted its position in shares of Halozyme Therapeutics by 1.8% during the second quarter. Private Advisor Group LLC now owns 22,753 shares of the biopharmaceutical company’s stock worth $1,191,000 after purchasing an additional 412 shares in the last quarter. Finally, Juncture Wealth Strategies LLC lifted its position in shares of Halozyme Therapeutics by 3.6% during the third quarter. Juncture Wealth Strategies LLC now owns 12,058 shares of the biopharmaceutical company’s stock worth $690,000 after purchasing an additional 415 shares in the last quarter. Institutional investors and hedge funds 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.