Halozyme Therapeutics (NASDAQ:HALO) Price Target Raised to $68.00 at HC Wainwright

Halozyme Therapeutics (NASDAQ:HALO) had its price objective upped by equities research analysts at HC Wainwright from $65.00 to $68.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s target price indicates a potential upside of 18.99% from the stock’s current price.

Several other research firms have also issued reports on HALO. Cowen reissued a “buy” rating on shares of Halozyme Therapeutics in a report on Friday, October 18th. The Goldman Sachs Group increased their price objective on shares of Halozyme Therapeutics from $44.00 to $49.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. TD Cowen boosted their target price on shares of Halozyme Therapeutics from $59.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Benchmark reiterated a “buy” rating and issued a $60.00 price target on shares of Halozyme Therapeutics in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. downgraded Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $52.00 to $57.00 in a research note on Thursday, September 19th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $61.00.

Halozyme Therapeutics Price Performance

Shares of HALO opened at $57.15 on Friday. The company’s 50-day moving average is $56.99 and its 200-day moving average is $52.04. The company has a debt-to-equity ratio of 5.19, a current ratio of 7.41 and a quick ratio of 6.21. The firm has a market capitalization of $7.24 billion, a PE ratio of 18.92, a PEG ratio of 0.49 and a beta of 1.29. Halozyme Therapeutics has a fifty-two week low of $33.15 and a fifty-two week high of $65.53.

Halozyme Therapeutics (NASDAQ:HALO) last released its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.18. Halozyme Therapeutics had a return on equity of 245.66% and a net margin of 41.43%. The business had revenue of $231.40 million during the quarter, compared to the consensus estimate of $204.94 million. During the same period in the previous year, the company posted $0.68 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. Equities analysts forecast that Halozyme Therapeutics will post 3.71 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $53.26, for a total transaction of $532,600.00. Following the completion of the transaction, the senior vice president now owns 173,756 shares in the company, valued at approximately $9,254,244.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Halozyme Therapeutics news, Director Matthew L. Posard sold 9,881 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $57.70, for a total transaction of $570,133.70. Following the sale, the director now owns 69,874 shares in the company, valued at $4,031,729.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Michael J. Labarre sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $53.26, for a total value of $532,600.00. Following the completion of the transaction, the senior vice president now owns 173,756 shares of the company’s stock, valued at approximately $9,254,244.56. 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 ninety days. 2.40% of the stock is currently owned by insiders.

Institutional Trading of Halozyme Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Whittier Trust Co. purchased a new stake in shares of Halozyme Therapeutics in the first quarter worth $27,000. GAMMA Investing LLC boosted 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 valued at $27,000 after acquiring an additional 254 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Halozyme Therapeutics during the 2nd quarter valued at about $33,000. Skandinaviska Enskilda Banken AB publ bought a new position in shares of Halozyme Therapeutics in the second quarter worth approximately $49,000. Finally, Fidelis Capital Partners LLC purchased a new stake in Halozyme Therapeutics in the first quarter valued at approximately $52,000. Institutional investors own 97.79% of the company’s stock.

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.