Halozyme Therapeutics (NASDAQ:HALO) Earns “Buy” Rating from HC Wainwright

Halozyme Therapeutics (NASDAQ:HALO)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a research note issued on Friday, Benzinga reports. They currently have a $65.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price target would indicate a potential upside of 31.85% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the stock. TD Cowen upped their target price on shares of Halozyme Therapeutics from $59.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. The Goldman Sachs Group increased their price objective on Halozyme Therapeutics from $44.00 to $49.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Morgan Stanley lifted their target price on Halozyme Therapeutics from $59.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Wells Fargo & Company lowered Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $58.00 to $62.00 in a research report on Monday, October 7th. Finally, Benchmark reaffirmed a “buy” rating and set a $60.00 price objective on shares of Halozyme Therapeutics in a report on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $60.44.

Halozyme Therapeutics Stock Down 3.0 %

HALO stock opened at $49.30 on Friday. The company has a debt-to-equity ratio of 5.19, a quick ratio of 6.21 and a current ratio of 7.41. Halozyme Therapeutics has a fifty-two week low of $32.83 and a fifty-two week high of $65.53. The stock’s 50 day simple moving average is $58.19 and its 200 day simple moving average is $51.44. The company has a market cap of $6.27 billion, a P/E ratio of 20.37, a price-to-earnings-growth ratio of 0.49 and a beta of 1.27.

Halozyme Therapeutics (NASDAQ:HALO) last posted its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.91 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $204.94 million. During the same quarter last year, the firm posted $0.68 EPS. Halozyme Therapeutics’s revenue was up 4.7% compared to the same quarter last year. On average, research analysts expect that Halozyme Therapeutics will post 3.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Matthew L. Posard sold 9,881 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $57.70, for a total transaction of $570,133.70. Following the completion of the sale, the director now owns 69,874 shares in the company, valued at $4,031,729.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Matthew L. Posard sold 9,881 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $57.70, for a total transaction of $570,133.70. Following the transaction, the director now owns 69,874 shares of the company’s stock, valued at $4,031,729.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Helen Torley sold 10,000 shares of Halozyme Therapeutics stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $52.58, for a total value of $525,800.00. Following the completion of the sale, the chief executive officer now directly owns 676,744 shares of the company’s stock, valued at approximately $35,583,199.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 89,881 shares of company stock valued at $5,169,834. Company insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. TD Asset Management Inc lifted its position in shares of Halozyme Therapeutics by 28.1% during the first quarter. TD Asset Management Inc now owns 2,541,266 shares of the biopharmaceutical company’s stock worth $103,379,000 after acquiring an additional 557,350 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in Halozyme Therapeutics by 76.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 1,969,169 shares of the biopharmaceutical company’s stock worth $112,715,000 after purchasing an additional 856,200 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Halozyme Therapeutics by 12.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,897,759 shares of the biopharmaceutical company’s stock worth $99,363,000 after purchasing an additional 209,530 shares during the period. Epoch Investment Partners Inc. grew its holdings in Halozyme Therapeutics by 23.3% during the 1st quarter. Epoch Investment Partners Inc. now owns 1,433,612 shares of the biopharmaceutical company’s stock valued at $58,319,000 after buying an additional 270,579 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Halozyme Therapeutics by 9.7% during the second quarter. American Century Companies Inc. now owns 821,266 shares of the biopharmaceutical company’s stock valued at $43,002,000 after buying an additional 72,544 shares during the period. 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.