Wells Fargo & Company Cuts Halozyme Therapeutics (NASDAQ:HALO) Price Target to $57.00

Halozyme Therapeutics (NASDAQ:HALO) had its price objective reduced by Wells Fargo & Company from $62.00 to $57.00 in a research report released on Monday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the biopharmaceutical company’s stock.

Several other brokerages have also recently weighed in on HALO. JPMorgan Chase & Co. cut 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 report on Thursday, September 19th. HC Wainwright boosted their price target on shares of Halozyme Therapeutics from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Piper Sandler boosted their target price on shares of Halozyme Therapeutics from $52.00 to $53.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. JMP Securities upped their price objective on shares of Halozyme Therapeutics from $72.00 to $73.00 and gave the company a “market outperform” rating in a research note on Friday, November 1st. Finally, Cowen reaffirmed a “buy” rating on shares of Halozyme Therapeutics in a report on Friday, October 18th. Four 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.com, Halozyme Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $60.89.

Halozyme Therapeutics Price Performance

NASDAQ:HALO opened at $54.51 on Monday. Halozyme Therapeutics has a 52 week low of $33.15 and a 52 week high of $65.53. The company has a quick ratio of 9.15, a current ratio of 10.36 and a debt-to-equity ratio of 3.32. The stock has a market capitalization of $6.94 billion, a PE ratio of 18.05, a price-to-earnings-growth ratio of 0.44 and a beta of 1.24. The stock’s 50-day moving average price is $49.83 and its 200-day moving average price is $54.06.

Insider Buying and Selling at Halozyme Therapeutics

In other news, Director Jeffrey William Henderson sold 10,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $50.01, for a total value of $500,100.00. Following the sale, the director now directly owns 43,611 shares in the company, valued at $2,180,986.11. This represents a 18.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Halozyme Therapeutics

Large investors have recently modified their holdings of the business. Commonwealth Equity Services LLC boosted its position in Halozyme Therapeutics by 34.3% during the second quarter. Commonwealth Equity Services LLC now owns 20,382 shares of the biopharmaceutical company’s stock worth $1,067,000 after acquiring an additional 5,210 shares during the last quarter. Private Advisor Group LLC increased its holdings in Halozyme Therapeutics by 1.8% during the 2nd 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 during the last quarter. American Century Companies Inc. raised its holdings in Halozyme Therapeutics by 9.7% in the second quarter. American Century Companies Inc. now owns 821,266 shares of the biopharmaceutical company’s stock valued at $43,002,000 after acquiring an additional 72,544 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Halozyme Therapeutics by 4.6% in the second quarter. DekaBank Deutsche Girozentrale now owns 57,453 shares of the biopharmaceutical company’s stock valued at $2,963,000 after acquiring an additional 2,546 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Halozyme Therapeutics by 4.9% during the second quarter. Envestnet Asset Management Inc. now owns 229,620 shares of the biopharmaceutical company’s stock worth $12,023,000 after purchasing an additional 10,651 shares during the period. 97.79% of the stock is currently 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.