Brokerages Set Halozyme Therapeutics, Inc. (NASDAQ:HALO) Target Price at $59.44

Halozyme Therapeutics, Inc. (NASDAQ:HALO) has been given an average rating of “Moderate Buy” by the nine research firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $59.44.

HALO has been the subject of a number of research reports. TD Cowen increased their target price on shares of Halozyme Therapeutics from $59.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Wells Fargo & Company increased their target price on shares of Halozyme Therapeutics from $48.00 to $58.00 and gave the stock an “overweight” rating in a research report on Friday, June 7th. Benchmark reiterated a “buy” rating and set a $60.00 target price on shares of Halozyme Therapeutics in a research report on Thursday, August 8th. Morgan Stanley increased their target price on shares of Halozyme Therapeutics from $59.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Finally, The Goldman Sachs Group raised their price objective on shares of Halozyme Therapeutics from $44.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd.

Halozyme Therapeutics Stock Performance

Shares of HALO stock opened at $62.30 on Tuesday. The firm has a 50-day moving average of $57.57 and a 200-day moving average of $48.42. The company has a market cap of $7.89 billion, a P/E ratio of 25.74, a P/E/G ratio of 0.57 and a beta of 1.28. The company has a debt-to-equity ratio of 5.19, a current ratio of 7.41 and a quick ratio of 6.21. Halozyme Therapeutics has a one year low of $32.83 and a one year high of $65.53.

Halozyme Therapeutics (NASDAQ:HALO) last announced its 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 during the quarter, compared to the consensus estimate of $204.94 million. Halozyme Therapeutics had a net margin of 38.62% and a return on equity of 195.80%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.68 earnings per share. Equities research analysts forecast that Halozyme Therapeutics will post 3.7 EPS for the current fiscal year.

Insider Activity at Halozyme Therapeutics

In other news, CFO Nicole Labrosse sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $51.93, for a total transaction of $519,300.00. Following the transaction, the chief financial officer now owns 15,480 shares of the company’s stock, valued at approximately $803,876.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Nicole Labrosse sold 10,000 shares of Halozyme Therapeutics stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $51.93, for a total value of $519,300.00. Following the completion of the sale, the chief financial officer now directly owns 15,480 shares in the company, valued at $803,876.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew L. Posard sold 9,881 shares of Halozyme Therapeutics stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $57.70, for a total value of $570,133.70. Following the completion of the transaction, the director now owns 69,874 shares in the company, valued at approximately $4,031,729.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 74,881 shares of company stock valued at $4,267,884. Insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Halozyme Therapeutics

A number of large investors have recently bought and sold shares of HALO. TD Asset Management Inc lifted its holdings in 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 acquiring an additional 1,662,390 shares during the period. Norges Bank acquired a new position in Halozyme Therapeutics in the fourth quarter valued at approximately $44,935,000. Epoch Investment Partners Inc. raised its stake in shares of Halozyme Therapeutics by 250.5% during the 4th quarter. Epoch Investment Partners Inc. now owns 1,163,033 shares of the biopharmaceutical company’s stock worth $42,986,000 after buying an additional 831,199 shares during the period. Boston Partners raised its stake in shares of 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 buying an additional 468,977 shares during the period. Finally, Boston Trust Walden Corp acquired a new position in shares of Halozyme Therapeutics during the 2nd quarter worth approximately $23,211,000. Hedge funds and other institutional investors own 97.79% of the company’s stock.

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.