Halozyme Therapeutics, Inc. (NASDAQ:HALO) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) have received a consensus recommendation of “Moderate Buy” from the thirteen research firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $78.80.

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Halozyme Therapeutics from $63.00 to $65.00 and gave the company a “neutral” rating in a report on Monday, October 27th. Wall Street Zen upgraded shares of Halozyme Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 31st. Citizens Jmp upped their price objective on shares of Halozyme Therapeutics from $91.00 to $92.00 and gave the company a “market outperform” rating in a research note on Tuesday, November 4th. TD Cowen increased their target price on shares of Halozyme Therapeutics from $79.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Finally, HC Wainwright reissued a “buy” rating on shares of Halozyme Therapeutics in a research note on Thursday, January 29th.

Halozyme Therapeutics Stock Performance

Shares of HALO stock opened at $79.44 on Tuesday. The company has a market capitalization of $9.34 billion, a P/E ratio of 16.72, a PEG ratio of 0.33 and a beta of 0.97. Halozyme Therapeutics has a fifty-two week low of $47.50 and a fifty-two week high of $82.22. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.37 and a current ratio of 1.59. The stock has a 50 day moving average price of $71.18 and a two-hundred day moving average price of $70.10.

Insider Buying and Selling

In related news, CEO Helen Torley sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $78.64, for a total transaction of $786,400.00. Following the completion of the transaction, the chief executive officer owned 708,719 shares in the company, valued at $55,733,662.16. This represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bernadette Connaughton sold 2,000 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $70.25, for a total value of $140,500.00. Following the completion of the sale, the director directly owned 40,123 shares of the company’s stock, valued at $2,818,640.75. The trade was a 4.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 49,398 shares of company stock worth $3,650,592. Corporate insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Halozyme Therapeutics

Large investors have recently modified their holdings of the stock. DLD Asset Management LP bought a new position in Halozyme Therapeutics in the second quarter worth about $650,250,000. Norges Bank purchased a new position in shares of Halozyme Therapeutics during the 4th quarter worth approximately $128,201,000. William Blair Investment Management LLC purchased a new position in shares of Halozyme Therapeutics during the 4th quarter worth approximately $124,031,000. Arrowstreet Capital Limited Partnership raised its position in shares of Halozyme Therapeutics by 127.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,541,181 shares of the biopharmaceutical company’s stock worth $132,192,000 after acquiring an additional 1,425,674 shares in the last quarter. Finally, Federated Hermes Inc. lifted its stake in shares of Halozyme Therapeutics by 294.1% in the 3rd quarter. Federated Hermes Inc. now owns 1,450,704 shares of the biopharmaceutical company’s stock valued at $106,395,000 after purchasing an additional 1,082,638 shares during the period. Institutional investors own 97.79% of the company’s stock.

About Halozyme Therapeutics

Halozyme Therapeutics, Inc is a biopharmaceutical company headquartered in San Diego, California, that specializes in the development and commercialization of novel drug-delivery technologies. Founded in 1998, Halozyme focuses on enabling subcutaneous administration of biologic therapies through its proprietary platforms. The company’s core mission is to improve patient access and convenience while maintaining efficacy and safety profiles comparable to or better than traditional routes of administration.

The company’s flagship technology, ENHANZE®, is based on recombinant human hyaluronidase PH20 (rHuPH20), an enzyme that transiently degrades hyaluronan in the extracellular matrix.