The Goldman Sachs Group Reiterates Sell Rating for Halozyme Therapeutics (NASDAQ:HALO)

Halozyme Therapeutics (NASDAQ:HALO)‘s stock had its “sell” rating reissued by analysts at The Goldman Sachs Group in a note issued to investors on Thursday, MarketBeat reports. They presently have a $56.00 target price on the biopharmaceutical company’s stock. The Goldman Sachs Group’s price target points to a potential downside of 11.57% from the company’s current price.

Several other equities analysts also recently issued reports on HALO. Zacks Research downgraded shares of Halozyme Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Benchmark increased their price objective on Halozyme Therapeutics from $75.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. HC Wainwright reaffirmed a “buy” rating and set a $90.00 target price on shares of Halozyme Therapeutics in a research report on Friday, November 28th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Halozyme Therapeutics in a report on Monday. Finally, Citigroup reissued a “market outperform” rating on shares of Halozyme Therapeutics in a research note on Tuesday, November 4th. Seven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Halozyme Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $75.10.

Halozyme Therapeutics Stock Performance

Shares of HALO stock opened at $63.33 on Thursday. The firm has a market capitalization of $7.45 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 0.34 and a beta of 0.95. The company has a current ratio of 1.59, a quick ratio of 1.37 and a debt-to-equity ratio of 1.59. The business’s 50-day moving average price is $68.18 and its 200-day moving average price is $64.26. Halozyme Therapeutics has a 12 month low of $46.26 and a 12 month high of $79.50.

Halozyme Therapeutics (NASDAQ:HALO) last released its quarterly earnings data on Monday, November 3rd. The biopharmaceutical company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.09. Halozyme Therapeutics had a return on equity of 156.95% and a net margin of 47.91%.The company had revenue of $354.26 million during the quarter, compared to the consensus estimate of $339.18 million. During the same quarter in the prior year, the firm posted $1.27 earnings per share. The firm’s revenue was up 22.1% compared to the same quarter last year. Equities research analysts forecast that Halozyme Therapeutics will post 4.73 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Helen Torley sold 16,569 shares of Halozyme Therapeutics stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $68.92, for a total value of $1,141,935.48. Following the completion of the transaction, the chief executive officer directly owned 708,719 shares of the company’s stock, valued at approximately $48,844,913.48. This trade represents a 2.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Nicole Labrosse sold 2,227 shares of the business’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $77.95, for a total value of $173,594.65. Following the completion of the transaction, the chief financial officer directly owned 22,079 shares in the company, valued at $1,721,058.05. This represents a 9.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 103,625 shares of company stock worth $7,446,727. Company insiders own 2.40% of the company’s stock.

Institutional Trading of Halozyme Therapeutics

Large investors have recently modified their holdings of the stock. Campbell Newman Asset Management Inc. boosted its holdings in shares of Halozyme Therapeutics by 0.4% in the third quarter. Campbell Newman Asset Management Inc. now owns 36,878 shares of the biopharmaceutical company’s stock worth $2,705,000 after acquiring an additional 153 shares during the period. Coldstream Capital Management Inc. raised its stake in shares of Halozyme Therapeutics by 1.9% during the 3rd quarter. Coldstream Capital Management Inc. now owns 8,914 shares of the biopharmaceutical company’s stock valued at $654,000 after purchasing an additional 165 shares during the period. Alps Advisors Inc. raised its stake in shares of Halozyme Therapeutics by 3.0% during the 3rd quarter. Alps Advisors Inc. now owns 5,926 shares of the biopharmaceutical company’s stock valued at $435,000 after purchasing an additional 170 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Halozyme Therapeutics by 6.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,685 shares of the biopharmaceutical company’s stock worth $140,000 after purchasing an additional 174 shares in the last quarter. Finally, Private Advisor Group LLC boosted its stake in Halozyme Therapeutics by 0.8% in the 3rd quarter. Private Advisor Group LLC now owns 23,623 shares of the biopharmaceutical company’s stock worth $1,733,000 after purchasing an additional 184 shares during the period. Institutional investors and hedge funds own 97.79% of the company’s stock.

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.