TD Cowen Raises Halozyme Therapeutics (NASDAQ:HALO) Price Target to $65.00

Halozyme Therapeutics (NASDAQ:HALO) had its price target boosted by equities research analysts at TD Cowen from $59.00 to $65.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. TD Cowen’s target price points to a potential upside of 20.10% from the company’s current price.

A number of other research firms have also recently commented on HALO. JPMorgan Chase & Co. reduced their target price on shares of Halozyme Therapeutics from $53.00 to $52.00 and set an “overweight” rating on the stock in a research report on Tuesday. The Goldman Sachs Group boosted their price target on shares of Halozyme Therapeutics from $44.00 to $49.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Piper Sandler cut shares of Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $48.00 to $51.00 in a research report on Friday, June 7th. 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. Finally, JMP Securities lowered 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 equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Halozyme Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.44.

Halozyme Therapeutics Stock Up 4.2 %

Halozyme Therapeutics stock traded up $2.18 during midday trading on Wednesday, reaching $54.12. The company’s stock had a trading volume of 1,956,571 shares, compared to its average volume of 1,256,631. The business has a 50-day simple moving average of $51.63 and a 200-day simple moving average of $43.74. Halozyme Therapeutics has a fifty-two week low of $32.83 and a fifty-two week high of $57.08. The company has a quick ratio of 5.36, a current ratio of 6.64 and a debt-to-equity ratio of 8.44. The company has a market cap of $6.89 billion, a P/E ratio of 22.36, a P/E/G ratio of 0.56 and a beta of 1.27.

Halozyme Therapeutics (NASDAQ:HALO) last issued its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.18. Halozyme Therapeutics had a return on equity of 225.71% and a net margin of 36.94%. The business had revenue of $231.40 million during the quarter, compared to the consensus estimate of $204.94 million. During the same period in the prior year, the business posted $0.68 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, research analysts expect that Halozyme Therapeutics will post 3.66 earnings per share for the current fiscal year.

Insider Buying and Selling at Halozyme Therapeutics

In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of the business’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $55.12, for a total value of $551,200.00. Following the sale, the senior vice president now directly owns 168,176 shares in the company, valued at $9,269,861.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $55.12, for a total transaction of $551,200.00. Following the transaction, the senior vice president now directly owns 168,176 shares of the company’s stock, valued at $9,269,861.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Nicole Labrosse sold 5,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $53.93, for a total value of $269,650.00. Following the sale, the chief financial officer now directly owns 15,480 shares of the company’s stock, valued at approximately $834,836.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,000 shares of company stock worth $2,294,050. Insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Halozyme Therapeutics

A number of institutional investors have recently bought and sold shares of HALO. Doheny Asset Management CA bought a new position in shares of Halozyme Therapeutics in the 2nd quarter valued at about $6,470,000. Texas Permanent School Fund Corp boosted its stake in Halozyme Therapeutics by 6.0% in the 2nd quarter. Texas Permanent School Fund Corp now owns 121,635 shares of the biopharmaceutical company’s stock worth $6,369,000 after purchasing an additional 6,890 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Halozyme Therapeutics during the 2nd quarter worth approximately $195,000. LSV Asset Management grew its position in Halozyme Therapeutics by 32.9% during the second quarter. LSV Asset Management now owns 613,800 shares of the biopharmaceutical company’s stock valued at $32,139,000 after buying an additional 152,000 shares during the period. Finally, Norden Group LLC raised its position in shares of Halozyme Therapeutics by 29.3% during the 2nd quarter. Norden Group LLC now owns 16,573 shares of the biopharmaceutical company’s stock worth $868,000 after purchasing an additional 3,757 shares during the last quarter. 97.79% of the stock is owned by 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.