HC Wainwright Reaffirms “Buy” Rating for Halozyme Therapeutics (NASDAQ:HALO)

Halozyme Therapeutics (NASDAQ:HALO)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a note issued to investors on Tuesday, Benzinga reports. They presently have a $50.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s target price indicates a potential upside of 28.97% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. The Goldman Sachs Group reduced their price target on Halozyme Therapeutics from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, January 18th. JMP Securities reaffirmed a “market outperform” rating and issued a $72.00 target price on shares of Halozyme Therapeutics in a research note on Wednesday, February 21st. TD Cowen initiated coverage on shares of Halozyme Therapeutics in a research report on Thursday, February 29th. They set an “outperform” rating and a $54.00 price target for the company. TheStreet cut shares of Halozyme Therapeutics from a “b-” rating to a “c+” rating in a research report on Monday, January 22nd. Finally, Benchmark restated a “buy” rating and set a $50.00 price target on shares of Halozyme Therapeutics in a report on Tuesday, April 16th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $53.29.

Halozyme Therapeutics Trading Up 0.5 %

HALO stock opened at $38.77 on Tuesday. Halozyme Therapeutics has a one year low of $29.85 and a one year high of $45.00. The company has a market capitalization of $4.93 billion, a PE ratio of 18.37, a price-to-earnings-growth ratio of 0.45 and a beta of 1.25. The company’s 50 day moving average price is $39.94 and its two-hundred day moving average price is $37.84. The company has a debt-to-equity ratio of 17.89, a quick ratio of 5.50 and a current ratio of 6.64.

Halozyme Therapeutics (NASDAQ:HALO) last issued its earnings results on Tuesday, February 20th. The biopharmaceutical company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.02). Halozyme Therapeutics had a return on equity of 248.20% and a net margin of 33.96%. The business had revenue of $230.04 million during the quarter, compared to analysts’ expectations of $235.25 million. As a group, analysts predict that Halozyme Therapeutics will post 3.45 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $39.55, for a total value of $395,500.00. Following the completion of the transaction, the senior vice president now directly owns 156,558 shares in the company, valued at approximately $6,191,868.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 30,000 shares of company stock worth $1,196,800. Corporate insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in HALO. Vanguard Group Inc. increased its holdings in shares of Halozyme Therapeutics by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 13,259,514 shares of the biopharmaceutical company’s stock valued at $490,072,000 after acquiring an additional 152,870 shares in the last quarter. Artisan Partners Limited Partnership lifted its stake in shares of Halozyme Therapeutics by 3.4% in the third quarter. Artisan Partners Limited Partnership now owns 7,712,874 shares of the biopharmaceutical company’s stock worth $294,632,000 after buying an additional 253,363 shares in the last quarter. TD Asset Management Inc grew its holdings in shares of Halozyme Therapeutics by 517.0% during the fourth quarter. TD Asset Management Inc now owns 1,983,916 shares of the biopharmaceutical company’s stock valued at $73,326,000 after buying an additional 1,662,390 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Halozyme Therapeutics by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,736,122 shares of the biopharmaceutical company’s stock valued at $64,167,000 after acquiring an additional 37,763 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Halozyme Therapeutics by 9.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,613,113 shares of the biopharmaceutical company’s stock valued at $59,622,000 after acquiring an additional 145,879 shares in the last quarter. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Halozyme Therapeutics Company Profile

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.