Brokerages Set Halozyme Therapeutics, Inc. (NASDAQ:HALO) Target Price at $78.56

Halozyme Therapeutics, Inc. (NASDAQ:HALO) has been assigned a consensus recommendation of “Hold” from the twelve brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $78.5556.

A number of equities research analysts have weighed in on HALO shares. Benchmark lifted their price target on shares of Halozyme Therapeutics from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $56.00 price objective on shares of Halozyme Therapeutics in a report on Thursday, December 4th. Wall Street Zen lowered shares of Halozyme Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Saturday, February 21st. HC Wainwright reissued a “buy” rating on shares of Halozyme Therapeutics in a research note on Thursday, January 29th. Finally, TD Cowen reissued a “buy” rating on shares of Halozyme Therapeutics in a research report on Wednesday, February 18th.

Halozyme Therapeutics Price Performance

Shares of HALO stock opened at $64.29 on Friday. The stock has a 50 day moving average of $72.28 and a two-hundred day moving average of $70.44. The company has a current ratio of 4.66, a quick ratio of 3.66 and a debt-to-equity ratio of 43.89. Halozyme Therapeutics has a 12 month low of $47.50 and a 12 month high of $82.22. The company has a market capitalization of $7.59 billion, a P/E ratio of 25.82, a P/E/G ratio of 0.26 and a beta of 0.98.

Halozyme Therapeutics (NASDAQ:HALO) last released its quarterly earnings data on Tuesday, February 17th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.92 by ($2.16). The firm had revenue of $451.77 million for the quarter, compared to the consensus estimate of $446.13 million. Halozyme Therapeutics had a net margin of 22.69% and a return on equity of 136.12%. The business’s revenue for the quarter was up 51.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.26 earnings per share. As a group, equities analysts expect that Halozyme Therapeutics will post 4.73 EPS for the current year.

Insider Activity

In other news, COO Cortney Caudill sold 8,857 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $67.64, for a total value of $599,087.48. Following the completion of the transaction, the chief operating officer directly owned 7,055 shares of the company’s stock, valued at approximately $477,200.20. This represents a 55.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Bernadette Connaughton sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $70.25, for a total value of $140,500.00. Following the transaction, the director owned 40,123 shares of the company’s stock, valued at $2,818,640.75. This trade represents a 4.75% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 90,857 shares of company stock worth $6,500,287. Company insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in HALO. Root Financial Partners LLC bought a new stake in shares of Halozyme Therapeutics in the 3rd quarter worth about $25,000. Measured Wealth Private Client Group LLC lifted its holdings in Halozyme Therapeutics by 51.5% during the 4th quarter. Measured Wealth Private Client Group LLC now owns 365 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 124 shares during the last quarter. Larson Financial Group LLC lifted its holdings in Halozyme Therapeutics by 3,118.2% during the 3rd quarter. Larson Financial Group LLC now owns 354 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 343 shares during the last quarter. Richardson Financial Services Inc. boosted its position in Halozyme Therapeutics by 87.6% in the third quarter. Richardson Financial Services Inc. now owns 424 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 198 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new position in Halozyme Therapeutics in the second quarter valued at about $32,000. 97.79% of the stock is owned by institutional investors.

Halozyme Therapeutics Company Profile

Halozyme Therapeutics, Inc is a biopharmaceutical company headquartered in San Diego, California, that specializes in the development and commercialization of novel drug-delivery technologies. Founded in 1998, Halozyme focuses on enabling subcutaneous administration of biologic therapies through its proprietary platforms. The company’s core mission is to improve patient access and convenience while maintaining efficacy and safety profiles comparable to or better than traditional routes of administration.

The company’s flagship technology, ENHANZE®, is based on recombinant human hyaluronidase PH20 (rHuPH20), an enzyme that transiently degrades hyaluronan in the extracellular matrix.