Halozyme Therapeutics (NASDAQ:HALO) Stock Price Expected to Rise, HC Wainwright Analyst Says

Halozyme Therapeutics (NASDAQ:HALO) had its price objective raised by HC Wainwright from $68.00 to $70.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

HALO has been the subject of several other research reports. JPMorgan Chase & Co. cut shares of Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $52.00 to $57.00 in a research report on Thursday, September 19th. JMP Securities boosted their price objective on shares of Halozyme Therapeutics from $72.00 to $73.00 and gave the stock a “market outperform” rating in a research report on Friday, November 1st. Piper Sandler increased their price objective on Halozyme Therapeutics from $51.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Cowen restated a “buy” rating on shares of Halozyme Therapeutics in a research report on Friday, October 18th. Finally, Wells Fargo & Company cut Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $58.00 to $62.00 in a report on Monday, October 7th. Four 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 company currently has an average rating of “Moderate Buy” and a consensus target price of $61.44.

Halozyme Therapeutics Price Performance

Halozyme Therapeutics stock opened at $52.80 on Friday. The business’s fifty 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 quick ratio of 9.15 and a current ratio of 10.36. The firm has a market cap 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 52 week low of $33.15 and a 52 week high of $65.53.

Insider Buying and Selling

In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $53.26, for a total value of $532,600.00. Following the completion of the sale, the senior vice president now owns 173,756 shares of the company’s stock, valued at approximately $9,254,244.56. This represents a 5.44 % decrease in their ownership of the stock. 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 owned by insiders.

Institutional Trading of Halozyme Therapeutics

Large investors have recently made changes to their positions in the company. RPg Family Wealth Advisory LLC bought a new position in Halozyme Therapeutics during the third quarter worth about $1,886,000. Segall Bryant & Hamill LLC grew its position in shares of Halozyme Therapeutics by 16.3% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 355,176 shares of the biopharmaceutical company’s stock valued at $20,330,000 after purchasing an additional 49,856 shares during the period. Retirement Systems of Alabama increased its stake in Halozyme Therapeutics by 23.5% during the 3rd quarter. Retirement Systems of Alabama now owns 389,268 shares of the biopharmaceutical company’s stock worth $22,282,000 after purchasing an additional 74,173 shares in the last quarter. Creative Planning raised its holdings in Halozyme Therapeutics by 43.2% during the 2nd quarter. Creative Planning now owns 37,291 shares of the biopharmaceutical company’s stock worth $1,953,000 after buying an additional 11,249 shares during the period. Finally, South Street Advisors LLC bought a new position in Halozyme Therapeutics in the third quarter valued at approximately $9,812,000. 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.