Halozyme Therapeutics (NASDAQ:HALO) Price Target Raised to $72.00 at HC Wainwright

Halozyme Therapeutics (NASDAQ:HALO) had its price objective raised by analysts at HC Wainwright from $70.00 to $72.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s target price would suggest a potential upside of 25.35% from the stock’s current price.

HALO has been the subject of several other research reports. JMP Securities boosted their target price 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. Wells Fargo & Company dropped their price target on Halozyme Therapeutics from $62.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Finally, Piper Sandler increased their target price on Halozyme Therapeutics from $52.00 to $53.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.78.

Halozyme Therapeutics Trading Down 0.6 %

Shares of HALO opened at $57.44 on Wednesday. Halozyme Therapeutics has a one year low of $36.61 and a one year high of $65.53. The stock has a 50-day moving average price of $53.26 and a 200 day moving average price of $54.58. 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 company has a market capitalization of $7.31 billion, a P/E ratio of 16.75, a P/E/G ratio of 0.44 and a beta of 1.25.

Halozyme Therapeutics (NASDAQ:HALO) last released its earnings results on Tuesday, February 18th. The biopharmaceutical company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.02. The company had revenue of $298.01 million during the quarter, compared to the consensus estimate of $285.74 million. Halozyme Therapeutics had a net margin of 43.74% and a return on equity of 165.13%. Sell-side analysts forecast that Halozyme Therapeutics will post 4.72 EPS for the current fiscal year.

Insider Activity

In related news, Director Jeffrey William Henderson sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $56.30, for a total value of $281,500.00. Following the sale, the director now directly owns 38,611 shares in the company, valued at $2,173,799.30. The trade was a 11.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Heck Capital Advisors LLC bought a new stake in shares of Halozyme Therapeutics during the 4th quarter worth $29,000. CBIZ Investment Advisory Services LLC acquired a new stake in shares of Halozyme Therapeutics during the fourth quarter worth $29,000. Smartleaf Asset Management LLC lifted its holdings in shares of Halozyme Therapeutics by 29.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 871 shares of the biopharmaceutical company’s stock valued at $42,000 after purchasing an additional 197 shares during the last quarter. FSC Wealth Advisors LLC acquired a new position in shares of Halozyme Therapeutics in the 3rd quarter valued at $65,000. Finally, Venturi Wealth Management LLC purchased a new position in Halozyme Therapeutics in the 4th quarter worth about $69,000. Institutional investors and hedge funds 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.