JMP Securities Raises Halozyme Therapeutics (NASDAQ:HALO) Price Target to $73.00

Halozyme Therapeutics (NASDAQ:HALO) had its price objective increased by stock analysts at JMP Securities from $72.00 to $73.00 in a report issued on Friday, Benzinga reports. The firm presently has a “market outperform” rating on the biopharmaceutical company’s stock. JMP Securities’ price objective suggests a potential upside of 28.18% from the stock’s previous close.

HALO has been the subject of a number of other reports. Benchmark reaffirmed a “buy” rating and set a $60.00 price objective on shares of Halozyme Therapeutics in a report on Thursday, August 8th. Morgan Stanley boosted their price objective on Halozyme Therapeutics from $59.00 to $64.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. lowered Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $52.00 to $57.00 in a research note on Thursday, September 19th. The Goldman Sachs Group boosted their target price on Halozyme Therapeutics from $44.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Finally, TD Cowen increased their target price on shares of Halozyme Therapeutics from $59.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $61.00.

Halozyme Therapeutics Stock Up 12.6 %

Shares of HALO stock opened at $56.95 on Friday. The company has a debt-to-equity ratio of 5.19, a current ratio of 7.41 and a quick ratio of 6.21. Halozyme Therapeutics has a one year low of $33.15 and a one year high of $65.53. The company’s fifty day moving average price is $57.32 and its 200-day moving average price is $51.82. The company has a market capitalization of $7.21 billion, a price-to-earnings ratio of 22.07, a PEG 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 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.18. The business had revenue of $231.40 million for the quarter, compared to analysts’ expectations of $204.94 million. Halozyme Therapeutics had a return on equity of 195.80% and a net margin of 38.62%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm earned $0.68 earnings per share. Sell-side analysts expect that Halozyme Therapeutics will post 3.71 EPS for the current fiscal year.

Insider Activity

In related news, Director Matthew L. Posard sold 9,881 shares of the company’s stock in a transaction dated 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 directly 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 SEC, which is available at this link. In related 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 value of $570,133.70. Following the transaction, the director now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matthew L. Posard sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $55.72, for a total value of $557,200.00. Following the completion of the transaction, the director now owns 89,755 shares of the company’s stock, valued at approximately $5,001,148.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,881 shares of company stock worth $5,169,834. Insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HALO. Portside Wealth Group LLC raised its stake in shares of Halozyme Therapeutics by 132.1% during the 3rd quarter. Portside Wealth Group LLC now owns 9,123 shares of the biopharmaceutical company’s stock valued at $522,000 after buying an additional 5,192 shares during the last quarter. Hanseatic Management Services Inc. acquired a new stake in Halozyme Therapeutics during the third quarter worth about $581,000. Foster & Motley Inc. acquired a new position in Halozyme Therapeutics in the third quarter valued at approximately $609,000. Catalyst Capital Advisors LLC purchased a new stake in Halozyme Therapeutics during the third quarter worth $1,944,000. Finally, QRG Capital Management Inc. purchased a new position in Halozyme Therapeutics in the third quarter valued at $245,000. 97.79% of the stock is currently owned by institutional investors and hedge funds.

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.