Halozyme Therapeutics (NASDAQ:HALO) Price Target Raised to $75.00

Halozyme Therapeutics (NASDAQ:HALO) had its price objective lifted by Wells Fargo & Company from $65.00 to $75.00 in a report published on Thursday morning,Benzinga reports. The brokerage currently has an equal weight rating on the biopharmaceutical company’s stock.

HALO has been the topic of a number of other reports. Wall Street Zen upgraded shares of Halozyme Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 31st. HC Wainwright reiterated a “buy” rating on shares of Halozyme Therapeutics in a report on Thursday, January 29th. Benchmark restated a “buy” rating on shares of Halozyme Therapeutics in a report on Tuesday, February 3rd. JPMorgan Chase & Co. lifted their price objective on shares of Halozyme Therapeutics from $63.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday, October 27th. Finally, Citizens Jmp increased their target price on Halozyme Therapeutics from $91.00 to $92.00 and gave the company a “market outperform” rating in a report on Tuesday, November 4th. Seven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $78.56.

Halozyme Therapeutics Price Performance

Shares of HALO opened at $70.98 on Thursday. Halozyme Therapeutics has a fifty-two week low of $47.50 and a fifty-two week high of $82.22. The firm’s 50 day moving average price is $72.14 and its 200 day moving average price is $70.43. The company has a market cap of $8.38 billion, a P/E ratio of 28.51, a PEG ratio of 0.29 and a beta of 0.97. The company has a quick ratio of 1.37, a current ratio of 4.66 and a debt-to-equity ratio of 43.89.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings results on Tuesday, February 17th. The biopharmaceutical company reported ($0.24) EPS for the quarter, missing the consensus estimate of $1.92 by ($2.16). Halozyme Therapeutics had a net margin of 22.69% and a return on equity of 136.12%. The business had revenue of $451.77 million during the quarter, compared to analysts’ expectations of $446.13 million. During the same period in the prior year, the business earned $1.26 EPS. The business’s quarterly revenue was up 51.6% on a year-over-year basis. On average, research analysts forecast that Halozyme Therapeutics will post 4.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Bernadette Connaughton sold 2,000 shares of Halozyme Therapeutics stock in a transaction on Monday, January 5th. The shares were sold at an average price of $70.25, for a total transaction of $140,500.00. Following the sale, the director directly owned 40,123 shares in the company, valued at $2,818,640.75. This trade represents a 4.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Helen Torley sold 20,000 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $76.12, for a total transaction of $1,522,400.00. Following the completion of the sale, the chief executive officer directly owned 708,719 shares of the company’s stock, valued at approximately $53,947,690.28. This trade represents a 2.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 49,398 shares of company stock worth $3,650,592 over the last ninety days. Insiders own 2.40% of the company’s stock.

Institutional Trading of Halozyme Therapeutics

Large investors have recently made changes to their positions in the company. Measured Wealth Private Client Group LLC increased its position in Halozyme Therapeutics by 51.5% during the fourth quarter. Measured Wealth Private Client Group LLC now owns 365 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 124 shares during the period. Abel Hall LLC grew its position in shares of Halozyme Therapeutics by 4.2% during the fourth quarter. Abel Hall LLC now owns 3,216 shares of the biopharmaceutical company’s stock worth $216,000 after acquiring an additional 129 shares during the last quarter. StoneX Group Inc. increased its holdings in shares of Halozyme Therapeutics by 3.8% in the 4th quarter. StoneX Group Inc. now owns 3,650 shares of the biopharmaceutical company’s stock valued at $246,000 after acquiring an additional 132 shares during the period. Moran Wealth Management LLC increased its holdings in shares of Halozyme Therapeutics by 0.4% in the 4th quarter. Moran Wealth Management LLC now owns 35,596 shares of the biopharmaceutical company’s stock valued at $2,396,000 after acquiring an additional 151 shares during the period. Finally, Campbell Newman Asset Management Inc. raised its position in Halozyme Therapeutics by 0.4% in the 3rd quarter. Campbell Newman Asset Management Inc. now owns 36,878 shares of the biopharmaceutical company’s stock valued at $2,705,000 after purchasing an additional 153 shares during the last quarter. 97.79% of the stock is owned by institutional investors and hedge funds.

Halozyme Therapeutics Company Profile

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.