Halozyme Therapeutics (NASDAQ:HALO) Price Target Raised to $90.00

Halozyme Therapeutics (NASDAQ:HALO) had its target price raised by Benchmark from $75.00 to $90.00 in a research note issued to investors on Thursday,Benzinga reports. Benchmark currently has a buy rating on the biopharmaceutical company’s stock.

Several other equities research analysts also recently issued reports on the stock. Citizens Jmp boosted their price objective on shares of Halozyme Therapeutics from $91.00 to $92.00 and gave the stock a “market outperform” rating in a research note on Tuesday, November 4th. Citigroup reaffirmed a “market outperform” rating on shares of Halozyme Therapeutics in a research report on Tuesday, November 4th. TD Cowen reissued a “buy” rating on shares of Halozyme Therapeutics in a research report on Wednesday. Weiss Ratings upgraded Halozyme Therapeutics from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 10th. Finally, Wall Street Zen upgraded Halozyme Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 31st. Seven research 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 MarketBeat, Halozyme Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $78.56.

Halozyme Therapeutics Stock Performance

Shares of NASDAQ:HALO opened at $70.98 on Thursday. The business has a 50-day moving average of $72.14 and a two-hundred day moving average of $70.43. The firm has a market capitalization of $8.38 billion, a PE ratio of 28.51, a P/E/G ratio of 0.29 and a beta of 0.97. The company has a debt-to-equity ratio of 43.89, a current ratio of 4.66 and a quick ratio of 1.37. Halozyme Therapeutics has a 12 month low of $47.50 and a 12 month high of $82.22.

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

Insider Activity

In other Halozyme Therapeutics news, CEO Helen Torley sold 10,000 shares of the firm’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 sale, the chief executive officer owned 708,719 shares in the company, valued at $55,733,662.16. This trade represents a 1.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bernadette Connaughton sold 2,000 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $70.25, for a total value of $140,500.00. Following the transaction, the director owned 40,123 shares of the company’s stock, valued at approximately $2,818,640.75. This trade represents a 4.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 49,398 shares of company stock valued at $3,650,592 over the last 90 days. Insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in HALO. CWM LLC raised its stake in Halozyme Therapeutics by 2,136.0% during the 3rd quarter. CWM LLC now owns 23,881 shares of the biopharmaceutical company’s stock valued at $1,751,000 after purchasing an additional 22,813 shares during the period. Arbor Investment Advisors LLC acquired a new stake in shares of Halozyme Therapeutics in the third quarter worth $1,316,000. Monument Capital Management purchased a new position in shares of Halozyme Therapeutics during the third quarter valued at $2,015,000. Pacer Advisors Inc. raised its position in Halozyme Therapeutics by 2,054.7% during the third quarter. Pacer Advisors Inc. now owns 478,874 shares of the biopharmaceutical company’s stock valued at $35,121,000 after buying an additional 456,649 shares during the period. Finally, Cardinal Capital Management purchased a new stake in Halozyme Therapeutics in the 3rd quarter worth about $1,303,000. Institutional investors and hedge funds 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.