Morgan Stanley Boosts Halozyme Therapeutics (NASDAQ:HALO) Price Target to $64.00

Halozyme Therapeutics (NASDAQ:HALO) had its target price boosted by Morgan Stanley from $59.00 to $64.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s target price points to a potential upside of 17.19% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Benchmark upped their price target on shares of Halozyme Therapeutics from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Wells Fargo & Company increased their target price on shares of Halozyme Therapeutics from $48.00 to $58.00 and gave the company an “overweight” rating in a research report on Friday, June 7th. HC Wainwright restated a “buy” rating and set a $65.00 price target on shares of Halozyme Therapeutics in a research report on Thursday, August 1st. JPMorgan Chase & Co. cut their price objective on shares of Halozyme Therapeutics from $53.00 to $52.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, JMP Securities dropped their price target on Halozyme Therapeutics from $72.00 to $71.00 and set a “market outperform” rating for the company in a research report on Wednesday, May 8th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.22.

Halozyme Therapeutics Stock Performance

Halozyme Therapeutics stock traded up $2.67 during mid-day trading on Wednesday, hitting $54.61. The company had a trading volume of 1,143,589 shares, compared to its average volume of 1,251,248. The company has a market capitalization of $6.95 billion, a price-to-earnings ratio of 22.68, a P/E/G ratio of 0.56 and a beta of 1.27. Halozyme Therapeutics has a 12-month low of $32.83 and a 12-month high of $57.08. The company’s fifty day moving average is $51.63 and its 200-day moving average is $43.74. The company has a current ratio of 6.64, a quick ratio of 5.36 and a debt-to-equity ratio of 8.44.

Halozyme Therapeutics (NASDAQ:HALO) last released its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.73 by $0.18. The company had revenue of $231.40 million for the quarter, compared to analyst estimates of $204.94 million. Halozyme Therapeutics had a net margin of 36.94% and a return on equity of 225.71%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business earned $0.68 earnings per share. Equities research analysts predict that Halozyme Therapeutics will post 3.66 EPS for the current year.

Insider Buying and Selling at Halozyme Therapeutics

In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $55.12, for a total value of $551,200.00. Following the transaction, the senior vice president now owns 168,176 shares of the company’s stock, valued at $9,269,861.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Nicole Labrosse sold 5,000 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $53.93, for a total transaction of $269,650.00. Following the completion of the transaction, the chief financial officer now directly 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. Also, SVP Michael J. Labarre sold 10,000 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $55.12, for a total value of $551,200.00. Following the completion of the sale, the senior vice president now owns 168,176 shares in the company, valued at approximately $9,269,861.12. The disclosure for this sale can be found here. Insiders have sold 45,000 shares of company stock worth $2,294,050 over the last quarter. 2.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Halozyme Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of HALO. TD Asset Management Inc grew its holdings in shares of Halozyme Therapeutics by 517.0% in 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 purchasing an additional 1,662,390 shares in the last quarter. Norges Bank acquired a new stake in shares of Halozyme Therapeutics in the fourth quarter valued at $44,935,000. Epoch Investment Partners Inc. boosted its holdings in Halozyme Therapeutics by 250.5% in the fourth quarter. Epoch Investment Partners Inc. now owns 1,163,033 shares of the biopharmaceutical company’s stock valued at $42,986,000 after purchasing an additional 831,199 shares during the period. Boston Partners grew its stake in Halozyme Therapeutics by 562.2% during the 4th quarter. Boston Partners now owns 552,392 shares of the biopharmaceutical company’s stock worth $20,218,000 after purchasing an additional 468,977 shares in the last quarter. Finally, LSV Asset Management purchased a new stake in Halozyme Therapeutics during the 4th quarter worth about $17,090,000. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

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.