Halozyme Therapeutics (NASDAQ:HALO) Stock Price Expected to Rise, Piper Sandler Analyst Says

Halozyme Therapeutics (NASDAQ:HALO) had its price target increased by research analysts at Piper Sandler from $51.00 to $52.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the biopharmaceutical company’s stock. Piper Sandler’s target price points to a potential downside of 11.76% from the stock’s previous close.

Several other equities analysts have also recently commented on the stock. HC Wainwright raised their target price on shares of Halozyme Therapeutics from $65.00 to $68.00 and gave the company a “buy” rating in a research note on Friday. Wells Fargo & Company lowered shares of Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $58.00 to $62.00 in a research report on Monday, October 7th. Morgan Stanley raised their price objective on shares of Halozyme Therapeutics from $59.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. JMP Securities raised their price objective on shares of Halozyme Therapeutics from $72.00 to $73.00 and gave the company a “market outperform” rating in a research report on Friday. Finally, Cowen restated a “buy” rating on shares of Halozyme Therapeutics in a research report on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Halozyme Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.11.

Halozyme Therapeutics Stock Performance

Shares of HALO stock traded up $1.78 during trading hours on Monday, reaching $58.93. The stock had a trading volume of 369,659 shares, compared to its average volume of 1,281,225. 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 twelve month low of $33.15 and a twelve month high of $65.53. The firm has a 50-day simple moving average of $56.99 and a 200-day simple moving average of $52.13. The firm has a market capitalization of $7.47 billion, a PE ratio of 19.51, a price-to-earnings-growth ratio of 0.49 and a beta of 1.29.

Halozyme Therapeutics (NASDAQ:HALO) last released its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.73 by $0.18. The firm had revenue of $231.40 million for the quarter, compared to analysts’ expectations of $204.94 million. Halozyme Therapeutics had a net margin of 41.43% and a return on equity of 245.66%. Halozyme Therapeutics’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the company earned $0.68 EPS. As a group, equities analysts forecast that Halozyme Therapeutics will post 3.71 earnings per share for the current year.

Insiders Place Their Bets

In other Halozyme Therapeutics news, CEO Helen Torley sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $52.58, for a total value of $525,800.00. Following the completion of the transaction, the chief executive officer now directly owns 676,744 shares in the company, valued at $35,583,199.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Helen Torley sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $52.58, for a total transaction of $525,800.00. Following the completion of the sale, the chief executive officer now directly owns 676,744 shares in the company, valued at approximately $35,583,199.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Matthew L. Posard sold 9,881 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 69,874 shares of the company’s stock, valued at approximately $4,031,729.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,881 shares of company stock worth $5,169,834 over the last ninety days. 2.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Halozyme Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. TD Asset Management Inc raised its position in 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 valued at $103,379,000 after acquiring an additional 557,350 shares in the last quarter. Congress Asset Management Co. raised its position in shares of Halozyme Therapeutics by 446.5% in the third quarter. Congress Asset Management Co. now owns 2,433,579 shares of the biopharmaceutical company’s stock valued at $139,298,000 after purchasing an additional 1,988,238 shares during the period. Handelsbanken Fonder AB raised its position in shares of Halozyme Therapeutics by 76.9% in the third quarter. Handelsbanken Fonder AB now owns 1,969,169 shares of the biopharmaceutical company’s stock valued at $112,715,000 after purchasing an additional 856,200 shares during the period. Dimensional Fund Advisors LP raised its position 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 purchasing an additional 209,530 shares during the period. Finally, Epoch Investment Partners Inc. raised its position in shares of Halozyme Therapeutics by 23.3% in the first quarter. Epoch Investment Partners Inc. now owns 1,433,612 shares of the biopharmaceutical company’s stock valued at $58,319,000 after purchasing an additional 270,579 shares during the period. Institutional investors own 97.79% of the company’s stock.

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.