Halozyme Therapeutics (NASDAQ:HALO) Price Target Cut to $71.00

Halozyme Therapeutics (NASDAQ:HALO) had its price objective trimmed by JMP Securities from $72.00 to $71.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has a market outperform rating on the biopharmaceutical company’s stock.

A number of other equities research analysts have also issued reports on the company. Benchmark reissued a buy rating and set a $50.00 price target on shares of Halozyme Therapeutics in a research note on Tuesday, April 16th. 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. HC Wainwright reiterated a buy rating and set a $50.00 price objective on shares of Halozyme Therapeutics in a report on Tuesday. StockNews.com raised Halozyme Therapeutics from a hold rating to a buy rating in a research report on Friday, February 23rd. Finally, The Goldman Sachs Group lowered their price target on Halozyme Therapeutics from $45.00 to $40.00 and set a neutral rating for the company in a report on Thursday, January 18th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $53.14.

Halozyme Therapeutics Trading Down 0.0 %

Shares of NASDAQ HALO traded down $0.02 during trading hours on Wednesday, hitting $41.99. 136,346 shares of the company traded hands, compared to its average volume of 1,205,265. The company’s 50 day moving average price is $40.09 and its 200 day moving average price is $38.01. Halozyme Therapeutics has a 12 month low of $31.05 and a 12 month high of $45.00. The stock has a market capitalization of $5.33 billion, a price-to-earnings ratio of 19.91, a price-to-earnings-growth ratio of 0.47 and a beta of 1.26. The company has a current ratio of 6.64, a quick ratio of 5.50 and a debt-to-equity ratio of 17.89.

Halozyme Therapeutics (NASDAQ:HALO) last posted its quarterly earnings data on Tuesday, February 20th. The biopharmaceutical company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.02). The firm had revenue of $230.04 million for the quarter, compared to the consensus estimate of $235.25 million. Halozyme Therapeutics had a net margin of 33.96% and a return on equity of 248.20%. On average, equities research analysts anticipate that Halozyme Therapeutics will post 3.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Halozyme Therapeutics

In other news, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $41.64, for a total transaction of $416,400.00. Following the transaction, the senior vice president now owns 156,558 shares in the company, valued at approximately $6,519,075.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders have sold 30,000 shares of company stock valued at $1,196,800. Company insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On Halozyme Therapeutics

A number of large investors have recently added to or reduced their stakes in HALO. Advisors Asset Management Inc. raised its position in shares of Halozyme Therapeutics by 0.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 45,598 shares of the biopharmaceutical company’s stock worth $1,742,000 after purchasing an additional 287 shares during the last quarter. First Horizon Advisors Inc. lifted its position in shares of Halozyme Therapeutics by 24.5% in the fourth quarter. First Horizon Advisors Inc. now owns 1,491 shares of the biopharmaceutical company’s stock valued at $55,000 after acquiring an additional 293 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Halozyme Therapeutics by 2.6% in the third quarter. Fifth Third Bancorp now owns 12,262 shares of the biopharmaceutical company’s stock worth $468,000 after acquiring an additional 308 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of Halozyme Therapeutics by 2.2% during the third quarter. Commonwealth Equity Services LLC now owns 16,216 shares of the biopharmaceutical company’s stock worth $619,000 after purchasing an additional 347 shares in the last quarter. Finally, FCF Advisors LLC raised its stake in Halozyme Therapeutics by 1.9% in the 1st quarter. FCF Advisors LLC now owns 21,164 shares of the biopharmaceutical company’s stock valued at $861,000 after purchasing an additional 391 shares during the last quarter. 97.79% of the stock is currently owned by institutional investors and hedge funds.

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.