Halozyme Therapeutics’ (HALO) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Halozyme Therapeutics (NASDAQ:HALO) in a research report report published on Thursday, Benzinga reports. The brokerage currently has a $65.00 price objective on the biopharmaceutical company’s stock.

Several other research analysts have also commented on HALO. The Goldman Sachs Group upped their price objective on shares of Halozyme Therapeutics from $44.00 to $49.00 and gave the stock a neutral rating in a report on Monday, July 22nd. Benchmark upped their price objective on shares of Halozyme Therapeutics from $50.00 to $60.00 and gave the stock a buy rating in a report on Tuesday, June 25th. Piper Sandler lowered shares of Halozyme Therapeutics from an overweight rating to a neutral rating and upped their price objective for the stock from $48.00 to $51.00 in a report on Friday, June 7th. Wells Fargo & Company upped their price objective on shares of Halozyme Therapeutics from $48.00 to $58.00 and gave the stock an overweight rating in a report on Friday, June 7th. Finally, JMP Securities decreased their price objective on shares of Halozyme Therapeutics from $72.00 to $71.00 and set a market outperform rating for the company in a report on Wednesday, May 8th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $58.38.

Halozyme Therapeutics Price Performance

HALO stock traded down $0.96 during midday trading on Thursday, reaching $54.09. The company had a trading volume of 1,178,383 shares, compared to its average volume of 1,243,255. The company has a debt-to-equity ratio of 8.44, a current ratio of 6.64 and a quick ratio of 5.36. Halozyme Therapeutics has a 1 year low of $32.83 and a 1 year high of $57.08. The company has a market capitalization of $6.88 billion, a P/E ratio of 22.35, a P/E/G ratio of 0.56 and a beta of 1.27. The firm has a 50-day moving average price of $51.28 and a 200-day moving average price of $43.39.

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

Insider Activity at Halozyme Therapeutics

In other news, CFO Nicole Labrosse sold 5,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $53.93, for a total transaction of $269,650.00. Following the sale, the chief financial officer now owns 15,480 shares in the company, valued at $834,836.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, SVP Michael J. Labarre sold 10,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $45.38, for a total transaction of $453,800.00. Following the sale, the senior vice president now owns 168,176 shares in the company, valued at $7,631,826.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Nicole Labrosse sold 5,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $53.93, for a total transaction of $269,650.00. Following the sale, the chief financial officer now owns 15,480 shares in the company, valued at approximately $834,836.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,000 shares of company stock valued at $2,294,050. 2.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC grew its holdings in shares of Halozyme Therapeutics by 96.6% in the second quarter. GAMMA Investing LLC now owns 517 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 254 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Halozyme Therapeutics by 2.4% in the second quarter. Fifth Third Bancorp now owns 11,206 shares of the biopharmaceutical company’s stock valued at $587,000 after purchasing an additional 261 shares in the last quarter. First Horizon Advisors Inc. grew its holdings 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 purchasing an additional 293 shares in the last quarter. FCF Advisors LLC grew its holdings in shares of Halozyme Therapeutics by 1.9% in the first 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 in the last quarter. Finally, New York State Teachers Retirement System grew its holdings in shares of Halozyme Therapeutics by 0.4% in the first quarter. New York State Teachers Retirement System now owns 113,820 shares of the biopharmaceutical company’s stock valued at $4,630,000 after purchasing an additional 400 shares in 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.