Halozyme Therapeutics (NASDAQ:HALO) Price Target Cut to $52.00

Halozyme Therapeutics (NASDAQ:HALO) had its price objective decreased by JPMorgan Chase & Co. from $53.00 to $52.00 in a research note issued to investors on Tuesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the biopharmaceutical company’s stock.

HALO has been the topic of a number of other research reports. HC Wainwright restated a buy rating and issued a $65.00 target price on shares of Halozyme Therapeutics in a report on Thursday, August 1st. JMP Securities decreased their target price 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. Benchmark boosted their price target on shares of Halozyme Therapeutics from $50.00 to $60.00 and gave the company a buy rating in a research report on Tuesday, June 25th. 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, Wells Fargo & Company raised their price target on shares of Halozyme Therapeutics from $48.00 to $58.00 and gave the company an overweight rating in a report on Friday, June 7th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Halozyme Therapeutics currently has an average rating of Moderate Buy and a consensus price target of $59.44.

Halozyme Therapeutics Trading Up 1.4 %

NASDAQ HALO traded up $0.74 during trading hours on Tuesday, hitting $55.20. 801,198 shares of the company’s stock were exchanged, compared to its average volume of 1,251,946. The stock has a 50-day simple moving average of $52.08 and a 200 day simple moving average of $43.89. Halozyme Therapeutics has a 1-year low of $32.83 and a 1-year high of $57.08. The firm has a market cap of $7.03 billion, a price-to-earnings ratio of 22.50, a PEG ratio of 0.56 and a beta of 1.27. 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 earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.73 by $0.18. The business had revenue of $231.40 million during the quarter, compared to analysts’ expectations of $204.94 million. Halozyme Therapeutics had a return on equity of 225.71% and a net margin of 36.94%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.68 earnings per share. On average, equities analysts forecast that Halozyme Therapeutics will post 3.66 EPS for the current fiscal year.

Insider Activity at Halozyme Therapeutics

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Halozyme Therapeutics by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 13,259,514 shares of the biopharmaceutical company’s stock worth $490,072,000 after acquiring an additional 152,870 shares in the last quarter. TD Asset Management Inc raised its position in shares of Halozyme Therapeutics by 28.1% in the 1st quarter. TD Asset Management Inc now owns 2,541,266 shares of the biopharmaceutical company’s stock worth $103,379,000 after acquiring an additional 557,350 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Halozyme Therapeutics by 12.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,897,759 shares of the biopharmaceutical company’s stock valued at $99,363,000 after buying an additional 209,530 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Halozyme Therapeutics by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,736,122 shares of the biopharmaceutical company’s stock valued at $64,167,000 after buying an additional 37,763 shares in the last quarter. Finally, Stephens Investment Management Group LLC increased its position in Halozyme Therapeutics by 4.4% during the 4th quarter. Stephens Investment Management Group LLC now owns 1,518,455 shares of the biopharmaceutical company’s stock valued at $56,122,000 after buying an additional 63,748 shares in the last quarter. Institutional investors own 97.79% of the company’s stock.

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.