Halozyme Therapeutics (NASDAQ:HALO) Rating Reiterated by HC Wainwright

Halozyme Therapeutics (NASDAQ:HALO)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a note issued to investors on Monday, Benzinga reports. They currently have a $65.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price target would suggest a potential upside of 24.05% from the stock’s current price.

A number of other brokerages have also recently issued reports on HALO. TD Cowen assumed coverage on Halozyme Therapeutics in a report on Thursday, February 29th. They set an “outperform” rating and a $54.00 price objective on the stock. Benchmark reissued a “buy” rating and set a $50.00 price objective on shares of Halozyme Therapeutics in a report on Tuesday, April 16th. Wells Fargo & Company increased their price objective on Halozyme Therapeutics from $48.00 to $58.00 and gave the stock an “overweight” rating in a report on Friday, June 7th. Piper Sandler cut Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $48.00 to $51.00 in a report on Friday, June 7th. Finally, JMP Securities dropped their price objective on Halozyme Therapeutics from $72.00 to $71.00 and set a “market outperform” rating on the stock in a report on Wednesday, May 8th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $57.25.

Halozyme Therapeutics Stock Up 0.7 %

Shares of NASDAQ HALO opened at $52.40 on Monday. Halozyme Therapeutics has a one year low of $32.83 and a one year high of $53.00. The company has a debt-to-equity ratio of 8.44, a current ratio of 6.64 and a quick ratio of 5.36. The business’s fifty day moving average price is $44.48 and its 200-day moving average price is $40.22. The stock has a market capitalization of $6.67 billion, a PE ratio of 21.65, a P/E/G ratio of 0.52 and a beta of 1.28.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.07. Halozyme Therapeutics had a return on equity of 225.71% and a net margin of 36.94%. The firm had revenue of $195.88 million for the quarter, compared to analysts’ expectations of $201.72 million. On average, equities research analysts anticipate that Halozyme Therapeutics will post 3.66 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $38.49, for a total transaction of $384,900.00. Following the transaction, the senior vice president now directly owns 168,176 shares in the company, valued at approximately $6,473,094.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 30,000 shares of company stock worth $1,338,800 in the last ninety days. 2.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Halozyme Therapeutics

Large investors have recently modified their holdings of the company. International Assets Investment Management LLC purchased a new position in shares of Halozyme Therapeutics during the 4th quarter valued at about $1,030,000. Harvey Capital Management Inc. purchased a new position in Halozyme Therapeutics in the 4th quarter worth approximately $5,918,000. Congress Asset Management Co. MA grew its position in shares of Halozyme Therapeutics by 16.2% in the 1st quarter. Congress Asset Management Co. MA now owns 407,867 shares of the biopharmaceutical company’s stock worth $16,592,000 after buying an additional 56,791 shares during the last quarter. Los Angeles Capital Management LLC grew its position in shares of Halozyme Therapeutics by 17.2% in the 1st quarter. Los Angeles Capital Management LLC now owns 121,000 shares of the biopharmaceutical company’s stock worth $4,922,000 after buying an additional 17,716 shares during the last quarter. Finally, Boston Partners grew its position in shares of Halozyme Therapeutics by 562.2% in the 4th quarter. Boston Partners now owns 552,392 shares of the biopharmaceutical company’s stock worth $20,218,000 after buying an additional 468,977 shares during the last quarter. 97.79% of the stock is owned by hedge funds and other institutional investors.

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.