HC Wainwright Boosts Halozyme Therapeutics (NASDAQ:HALO) Price Target to $90.00

Halozyme Therapeutics (NASDAQ:HALO) had its price target boosted by equities researchers at HC Wainwright from $85.00 to $90.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective suggests a potential upside of 30.47% from the stock’s current price.

A number of other equities analysts have also recently commented on HALO. Benchmark lifted their price target on Halozyme Therapeutics from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Wall Street Zen cut Halozyme Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday, September 5th. The Goldman Sachs Group started coverage on Halozyme Therapeutics in a report on Thursday, July 10th. They set a “neutral” rating and a $55.00 price target for the company. JMP Securities boosted their price objective on Halozyme Therapeutics from $78.00 to $91.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 6th. Finally, Morgan Stanley boosted their price objective on Halozyme Therapeutics from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $70.44.

Halozyme Therapeutics Trading Down 3.8%

Halozyme Therapeutics stock opened at $68.98 on Thursday. Halozyme Therapeutics has a 52 week low of $42.01 and a 52 week high of $79.50. The company has a debt-to-equity ratio of 4.54, a quick ratio of 7.01 and a current ratio of 8.36. The stock has a market capitalization of $8.07 billion, a P/E ratio of 15.78, a PEG ratio of 0.40 and a beta of 1.16. The stock has a 50-day simple moving average of $70.45 and a 200 day simple moving average of $61.97.

Halozyme Therapeutics (NASDAQ:HALO) last posted its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.31. Halozyme Therapeutics had a return on equity of 150.85% and a net margin of 47.28%.The business had revenue of $325.72 million during the quarter, compared to analysts’ expectations of $282.66 million. During the same quarter last year, the company posted $0.91 earnings per share. Halozyme Therapeutics’s quarterly revenue was up 40.8% on a year-over-year basis. Halozyme Therapeutics has set its FY 2025 guidance at 6.000-6.400 EPS. Analysts expect that Halozyme Therapeutics will post 4.73 earnings per share for the current year.

Insider Activity

In other news, Director Bernadette Connaughton sold 2,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $75.24, for a total value of $150,480.00. Following the completion of the sale, the director directly owned 44,952 shares in the company, valued at approximately $3,382,188.48. The trade was a 4.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Helen Torley sold 20,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $69.03, for a total transaction of $1,380,600.00. Following the completion of the sale, the chief executive officer owned 733,719 shares of the company’s stock, valued at approximately $50,648,622.57. The trade was a 2.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 128,227 shares of company stock worth $8,908,195. Corporate insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Halozyme Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wealth Preservation Advisors LLC acquired a new stake in shares of Halozyme Therapeutics in the first quarter valued at approximately $32,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Halozyme Therapeutics in the second quarter valued at approximately $32,000. SVB Wealth LLC acquired a new stake in shares of Halozyme Therapeutics in the first quarter valued at approximately $33,000. Bessemer Group Inc. raised its position in Halozyme Therapeutics by 62.9% during the first quarter. Bessemer Group Inc. now owns 536 shares of the biopharmaceutical company’s stock valued at $34,000 after purchasing an additional 207 shares in the last quarter. Finally, Employees Retirement System of Texas acquired a new position in Halozyme Therapeutics during the second quarter valued at approximately $34,000. 97.79% of the stock is currently owned by institutional investors and hedge funds.

About Halozyme Therapeutics

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.