Halozyme Therapeutics (NASDAQ:HALO) Price Target Raised to $53.00

Halozyme Therapeutics (NASDAQ:HALO) had its target price increased by Piper Sandler from $52.00 to $53.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a neutral rating on the biopharmaceutical company’s stock.

Several other research firms have also recently commented on HALO. Wells Fargo & Company cut shares of Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $58.00 to $62.00 in a research note on Monday, October 7th. JPMorgan Chase & Co. lowered Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and upped their target price for the company from $52.00 to $57.00 in a research note on Thursday, September 19th. JMP Securities raised their price target on Halozyme Therapeutics from $72.00 to $73.00 and gave the stock a “market outperform” rating in a research note on Friday, November 1st. Cowen reiterated a “buy” rating on shares of Halozyme Therapeutics in a report on Friday, October 18th. Finally, HC Wainwright raised their target price on shares of Halozyme Therapeutics from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $61.44.

Halozyme Therapeutics Price Performance

Halozyme Therapeutics stock opened at $52.80 on Friday. The firm’s 50-day moving average is $50.23 and its two-hundred day moving average is $54.00. The company has a debt-to-equity ratio of 3.32, a current ratio of 10.36 and a quick ratio of 9.15. The stock has a market capitalization of $6.72 billion, a P/E ratio of 17.48, a P/E/G ratio of 0.44 and a beta of 1.24. Halozyme Therapeutics has a 12-month low of $33.15 and a 12-month high of $65.53.

Insider Activity at Halozyme Therapeutics

In related news, Director Jeffrey William Henderson sold 10,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $50.01, for a total value of $500,100.00. Following the completion of the sale, the director now directly owns 43,611 shares in the company, valued at approximately $2,180,986.11. This represents a 18.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Halozyme Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of HALO. Congress Asset Management Co. raised its holdings in shares of Halozyme Therapeutics by 446.5% during the 3rd quarter. Congress Asset Management Co. now owns 2,433,579 shares of the biopharmaceutical company’s stock valued at $139,298,000 after buying an additional 1,988,238 shares during the period. Handelsbanken Fonder AB raised its stake in shares of Halozyme Therapeutics by 76.9% during the third quarter. Handelsbanken Fonder AB now owns 1,969,169 shares of the biopharmaceutical company’s stock valued at $112,715,000 after purchasing an additional 856,200 shares during the period. Boston Trust Walden Corp lifted its position in shares of Halozyme Therapeutics by 54.0% during the third quarter. Boston Trust Walden Corp now owns 682,616 shares of the biopharmaceutical company’s stock worth $39,073,000 after purchasing an additional 239,321 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Halozyme Therapeutics by 12.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,897,759 shares of the biopharmaceutical company’s stock valued at $99,363,000 after purchasing an additional 209,530 shares during the period. Finally, Federated Hermes Inc. boosted its stake in shares of Halozyme Therapeutics by 37.8% in the second quarter. Federated Hermes Inc. now owns 696,131 shares of the biopharmaceutical company’s stock valued at $36,449,000 after purchasing an additional 191,030 shares during the period. Hedge funds and other 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.