Halozyme Therapeutics (NASDAQ:HALO) Sets New 1-Year Low Following Analyst Downgrade

Halozyme Therapeutics, Inc. (NASDAQ:HALO – Get Rating) shares reached a new 52-week low on Friday after SVB Leerink downgraded the stock from an outperform rating to a market perform rating. SVB Leerink now has a $42.00 price target on the stock. Halozyme Therapeutics traded as low as $34.88 and last traded at $34.88, with a volume of 1242743 shares traded. The stock had previously closed at $36.07.

A number of other equities analysts have also recently weighed in on HALO. JMP Securities reissued a “market outperform” rating and issued a $66.00 price target (up from $62.00) on shares of Halozyme Therapeutics in a report on Wednesday, February 22nd. SVB Securities downgraded Halozyme Therapeutics from an “outperform” rating to a “market perform” rating and set a $42.00 price objective for the company. in a research report on Thursday. Wells Fargo & Company decreased their target price on shares of Halozyme Therapeutics from $65.00 to $55.00 and set an “overweight” rating on the stock in a research report on Thursday. Morgan Stanley dropped their price target on shares of Halozyme Therapeutics from $65.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, March 6th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Halozyme Therapeutics from $54.00 to $52.00 and set an “overweight” rating for the company in a research note on Thursday, February 23rd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $56.13.

Insider Buying and Selling at Halozyme Therapeutics

In other Halozyme Therapeutics news, CFO Nicole Labrosse sold 2,525 shares of the firm’s stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $49.26, for a total transaction of $124,381.50. Following the completion of the sale, the chief financial officer now owns 9,066 shares in the company, valued at approximately $446,591.16. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $50.46, for a total transaction of $504,600.00. Following the transaction, the senior vice president now owns 143,137 shares of the company’s stock, valued at approximately $7,222,693.02. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Nicole Labrosse sold 2,525 shares of the stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $49.26, for a total value of $124,381.50. Following the transaction, the chief financial officer now directly owns 9,066 shares in the company, valued at approximately $446,591.16. The disclosure for this sale can be found here. Insiders sold a total of 93,586 shares of company stock worth $4,550,046 in the last 90 days. 2.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Halozyme Therapeutics by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 13,335,155 shares of the biopharmaceutical company’s stock worth $527,273,000 after purchasing an additional 38,342 shares during the last quarter. Artisan Partners Limited Partnership increased its position in Halozyme Therapeutics by 16.5% in the 4th quarter. Artisan Partners Limited Partnership now owns 7,140,953 shares of the biopharmaceutical company’s stock valued at $406,320,000 after acquiring an additional 1,013,061 shares during the period. Macquarie Group Ltd. increased its position in Halozyme Therapeutics by 2.0% in the 4th quarter. Macquarie Group Ltd. now owns 2,605,261 shares of the biopharmaceutical company’s stock valued at $148,239,000 after acquiring an additional 50,294 shares during the period. Geode Capital Management LLC increased its position in Halozyme Therapeutics by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 2,515,097 shares of the biopharmaceutical company’s stock valued at $143,109,000 after acquiring an additional 38,233 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in Halozyme Therapeutics by 1.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,637,959 shares of the biopharmaceutical company’s stock valued at $93,199,000 after acquiring an additional 22,939 shares during the period. Institutional investors own 96.32% of the company’s stock.

Halozyme Therapeutics Trading Down 8.3 %

The stock has a market capitalization of $4.48 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 0.52 and a beta of 1.26. The firm has a 50-day moving average of $48.67 and a 200 day moving average of $48.74. The company has a current ratio of 5.65, a quick ratio of 4.88 and a debt-to-equity ratio of 8.79.

About Halozyme Therapeutics

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Halozyme Therapeutics, Inc operates as a biopharma technology platform company in the United States, Switzerland, Ireland, Belgium, Japan, and internationally. The company's products are based on the ENHANZE drug delivery technology, a patented recombinant human hyaluronidase enzyme (rHuPH20) that enables the subcutaneous delivery of injectable biologics, such as monoclonal antibodies and other therapeutic molecules, as well as small molecules and fluids.