Halozyme Therapeutics’ (HALO) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Halozyme Therapeutics (NASDAQ:HALO) in a research note released on Monday morning, Benzinga reports. HC Wainwright currently has a $65.00 target price on the biopharmaceutical company’s stock.

Several other equities research analysts have also recently weighed in on HALO. Benchmark reiterated a buy rating and set a $50.00 price objective on shares of Halozyme Therapeutics in a research report on Tuesday, April 16th. Piper Sandler cut shares of Halozyme Therapeutics from an overweight rating to a neutral rating and raised their price target for the stock from $48.00 to $51.00 in a report on Friday, June 7th. Wells Fargo & Company raised their price target on shares of Halozyme Therapeutics from $48.00 to $58.00 and gave the stock an overweight rating in a report on Friday, June 7th. TD Cowen started coverage on shares of Halozyme Therapeutics in a report on Thursday, February 29th. They issued an outperform rating and a $54.00 price target for the company. Finally, JMP Securities reduced their price target on shares of Halozyme Therapeutics from $72.00 to $71.00 and set a market outperform rating for the company in a report on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $57.25.

Halozyme Therapeutics Trading Down 0.7 %

HALO opened at $51.63 on Monday. Halozyme Therapeutics has a twelve month low of $32.83 and a twelve month high of $53.00. The company has a quick ratio of 5.36, a current ratio of 6.64 and a debt-to-equity ratio of 8.44. The company has a fifty day moving average of $45.03 and a 200-day moving average of $40.38. The stock has a market cap of $6.57 billion, a PE ratio of 21.33, a price-to-earnings-growth ratio of 0.53 and a beta of 1.28.

Halozyme Therapeutics (NASDAQ:HALO) last posted its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.07. Halozyme Therapeutics had a net margin of 36.94% and a return on equity of 225.71%. The company had revenue of $195.88 million during the quarter, compared to analysts’ expectations of $201.72 million. On average, sell-side analysts predict that Halozyme Therapeutics will post 3.66 EPS for the current year.

Insider Buying and Selling at Halozyme Therapeutics

In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $45.38, for a total value of $453,800.00. Following the transaction, the senior vice president now directly owns 168,176 shares of the company’s stock, valued at $7,631,826.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have sold 30,000 shares of company stock valued at $1,338,800. Corporate insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in HALO. TD Asset Management Inc lifted its position in shares of Halozyme Therapeutics by 517.0% during the fourth quarter. TD Asset Management Inc now owns 1,983,916 shares of the biopharmaceutical company’s stock valued at $73,326,000 after purchasing an additional 1,662,390 shares in the last quarter. Norges Bank bought a new position in shares of Halozyme Therapeutics during the fourth quarter valued at about $44,935,000. Epoch Investment Partners Inc. lifted its position in shares of Halozyme Therapeutics by 250.5% during the fourth quarter. Epoch Investment Partners Inc. now owns 1,163,033 shares of the biopharmaceutical company’s stock valued at $42,986,000 after purchasing an additional 831,199 shares in the last quarter. Boston Partners lifted its position in shares of Halozyme Therapeutics by 562.2% during the fourth quarter. Boston Partners now owns 552,392 shares of the biopharmaceutical company’s stock valued at $20,218,000 after purchasing an additional 468,977 shares in the last quarter. Finally, LSV Asset Management bought a new position in shares of Halozyme Therapeutics during the fourth quarter valued at about $17,090,000. 97.79% of the stock is owned by institutional investors.

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.