HC Wainwright Reiterates Buy Rating for Halozyme Therapeutics (NASDAQ:HALO)

Halozyme Therapeutics (NASDAQ:HALO)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a report released on Tuesday,Benzinga reports. They currently have a $70.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s target price suggests a potential upside of 24.38% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Cowen reiterated a “buy” rating on shares of Halozyme Therapeutics in a report on Friday, October 18th. Piper Sandler upped their price target on shares of Halozyme Therapeutics from $52.00 to $53.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Wells Fargo & Company decreased their price target on shares of Halozyme Therapeutics from $62.00 to $57.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Finally, JMP Securities boosted their target price 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. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $60.89.

Halozyme Therapeutics Stock Down 0.6 %

NASDAQ HALO opened at $56.28 on Tuesday. Halozyme Therapeutics has a one year low of $33.15 and a one year high of $65.53. 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 stock has a 50 day moving average price of $50.82 and a 200-day moving average price of $54.33. The company has a market capitalization of $7.16 billion, a P/E ratio of 18.64, a P/E/G ratio of 0.43 and a beta of 1.25.

Insider Buying and Selling

In other Halozyme Therapeutics news, Director Jeffrey William Henderson sold 10,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $50.01, for a total value of $500,100.00. Following the completion of the transaction, the director now owns 43,611 shares in the company, valued at approximately $2,180,986.11. This represents a 18.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Halozyme Therapeutics

A number of hedge funds have recently bought and sold shares of HALO. Congress Asset Management Co. lifted its position 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 in the last quarter. Janney Montgomery Scott LLC grew its position in shares of Halozyme Therapeutics by 698.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 287,731 shares of the biopharmaceutical company’s stock valued at $13,756,000 after purchasing an additional 251,711 shares during the period. Boston Trust Walden Corp increased its stake 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. South Street Advisors LLC acquired a new position in shares of Halozyme Therapeutics during the 3rd quarter worth about $9,812,000. Finally, Hantz Financial Services Inc. purchased a new position in Halozyme Therapeutics in the 3rd quarter valued at about $9,260,000. 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.