Halozyme Therapeutics Inc. (HALO) Shares Up 3.3%
Shares of Halozyme Therapeutics Inc. (NASDAQ:HALO) shot up 3.3% on Tuesday . The company traded as high as $12.75 and last traded at $12.48, with a volume of 1,418,924 shares trading hands. The stock had previously closed at $12.08.
A number of brokerages have weighed in on HALO. Wells Fargo & Co. reiterated a “buy” rating on shares of Halozyme Therapeutics in a research report on Thursday, September 8th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $15.00 price objective on shares of Halozyme Therapeutics in a research note on Thursday, June 9th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $11.00 price objective on shares of Halozyme Therapeutics in a research note on Monday, June 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. Halozyme Therapeutics currently has an average rating of “Buy” and an average target price of $16.11.
The stock’s market cap is $1.61 billion. The stock’s 50-day moving average is $10.30 and its 200 day moving average is $9.74.
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Halozyme Therapeutics (NASDAQ:HALO) last released its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.21) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.06. The business earned $33.30 million during the quarter, compared to analysts’ expectations of $29.94 million. Halozyme Therapeutics had a negative return on equity of 234.15% and a negative net margin of 44.90%. The firm’s revenue for the quarter was down 23.3% compared to the same quarter last year. During the same period last year, the firm posted $0.02 EPS. On average, equities research analysts forecast that Halozyme Therapeutics Inc. will post ($0.91) EPS for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its stake in Halozyme Therapeutics by 13.5% in the second quarter. Royal Bank of Canada now owns 14,200 shares of the biopharmaceutical company’s stock valued at $122,000 after buying an additional 1,685 shares during the last quarter. Amalgamated Bank raised its position in Halozyme Therapeutics by 3.0% in the second quarter. Amalgamated Bank now owns 11,518 shares of the biopharmaceutical company’s stock worth $117,000 after buying an additional 338 shares during the period. Cubist Systematic Strategies LLC bought a new position in Halozyme Therapeutics during the second quarter worth approximately $275,000. Panagora Asset Management Inc. raised its position in Halozyme Therapeutics by 32.6% in the second quarter. Panagora Asset Management Inc. now owns 984,723 shares of the biopharmaceutical company’s stock worth $8,498,000 after buying an additional 242,213 shares during the period. Finally, Parametric Portfolio Associates LLC raised its position in Halozyme Therapeutics by 7.1% in the second quarter. Parametric Portfolio Associates LLC now owns 33,732 shares of the biopharmaceutical company’s stock worth $291,000 after buying an additional 2,250 shares during the period. 80.41% of the stock is owned by institutional investors and hedge funds.
About Halozyme Therapeutics
Halozyme Therapeutics, Inc is a biotechnology company focused on developing and commercializing oncology therapies. The Company operates in research, development and commercialization of enzymes segment. This segment also includes research and development, and bulk rHuPH20 manufacturing activities conducted under its collaborative agreements with third parties, and product sales of Hylenex recombinant.
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