Halozyme Therapeutics (NASDAQ:HALO) Lowered to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of Halozyme Therapeutics (NASDAQ:HALO) from an overweight rating to a neutral rating in a research note issued to investors on Thursday morning, Marketbeat reports. They currently have $57.00 price objective on the biopharmaceutical company’s stock, up from their previous price objective of $52.00.

HALO has been the topic of several other reports. Benchmark reiterated a buy rating and set a $60.00 target price on shares of Halozyme Therapeutics in a report on Thursday, August 8th. The Goldman Sachs Group lifted their price objective on shares of Halozyme Therapeutics from $44.00 to $49.00 and gave the company a neutral rating in a research note on Monday, July 22nd. HC Wainwright restated a buy rating and issued a $65.00 target price on shares of Halozyme Therapeutics in a research note on Friday, September 13th. Morgan Stanley lifted their price target on shares of Halozyme Therapeutics from $59.00 to $64.00 and gave the stock an overweight rating in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company boosted their price objective 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. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $60.00.

Halozyme Therapeutics Trading Down 0.4 %

Shares of HALO stock opened at $59.24 on Thursday. The company has a quick ratio of 6.21, a current ratio of 7.41 and a debt-to-equity ratio of 5.19. Halozyme Therapeutics has a fifty-two week low of $32.83 and a fifty-two week high of $65.53. The firm’s 50 day moving average price is $58.40 and its two-hundred day moving average price is $49.25. The stock has a market cap of $7.54 billion, a price-to-earnings ratio of 24.48, a price-to-earnings-growth ratio of 0.57 and a beta of 1.28.

Halozyme Therapeutics (NASDAQ:HALO) last posted its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.18. Halozyme Therapeutics had a net margin of 38.62% and a return on equity of 195.80%. The business had revenue of $231.40 million for the quarter, compared to analyst estimates of $204.94 million. During the same quarter in the previous year, the business posted $0.68 EPS. The business’s quarterly revenue was up 4.7% on a year-over-year basis. On average, analysts anticipate that Halozyme Therapeutics will post 3.7 EPS for the current year.

Insider Buying and Selling

In other Halozyme Therapeutics news, CFO Nicole Labrosse sold 10,000 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $51.93, for a total transaction of $519,300.00. Following the completion of the transaction, the chief financial officer now directly owns 15,480 shares of the company’s stock, valued at approximately $803,876.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Matthew L. Posard sold 9,881 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $57.70, for a total value of $570,133.70. Following the completion of the sale, the director now owns 69,874 shares of the company’s stock, valued at $4,031,729.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Nicole Labrosse sold 10,000 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $51.93, for a total transaction of $519,300.00. Following the completion of the transaction, the chief financial officer now owns 15,480 shares of the company’s stock, valued at approximately $803,876.40. The disclosure for this sale can be found here. Insiders have sold a total of 84,881 shares of company stock valued at $4,888,184 in the last quarter. Company insiders own 2.40% of the company’s stock.

Institutional Trading of Halozyme Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Halozyme Therapeutics by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 13,259,514 shares of the biopharmaceutical company’s stock valued at $490,072,000 after acquiring an additional 152,870 shares during the period. TD Asset Management Inc raised its stake in shares of Halozyme Therapeutics by 28.1% in the 1st quarter. TD Asset Management Inc now owns 2,541,266 shares of the biopharmaceutical company’s stock worth $103,379,000 after buying an additional 557,350 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Halozyme Therapeutics by 12.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,897,759 shares of the biopharmaceutical company’s stock valued at $99,363,000 after buying an additional 209,530 shares during the period. Stephens Investment Management Group LLC boosted its stake in Halozyme Therapeutics by 4.4% during the fourth quarter. Stephens Investment Management Group LLC now owns 1,518,455 shares of the biopharmaceutical company’s stock valued at $56,122,000 after buying an additional 63,748 shares in the last quarter. Finally, Epoch Investment Partners Inc. grew its holdings in Halozyme Therapeutics by 23.3% during the first quarter. Epoch Investment Partners Inc. now owns 1,433,612 shares of the biopharmaceutical company’s stock worth $58,319,000 after acquiring an additional 270,579 shares during the period. 97.79% of the stock is currently owned by institutional investors.

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.