Analysts Set Halozyme Therapeutics, Inc. (NASDAQ:HALO) Target Price at $79.11

Halozyme Therapeutics, Inc. (NASDAQ:HALO) has been assigned an average recommendation of “Hold” from the twelve ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $79.1111.

A number of equities analysts have issued reports on HALO shares. TD Cowen reissued a “buy” rating on shares of Halozyme Therapeutics in a research report on Wednesday, February 18th. HC Wainwright raised their price target on shares of Halozyme Therapeutics from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. 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. Benchmark raised their price target on shares of Halozyme Therapeutics from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, February 19th. Finally, Weiss Ratings lowered shares of Halozyme Therapeutics from a “buy (b-)” rating to a “hold (c)” rating in a research report on Tuesday, February 24th.

Halozyme Therapeutics Stock Up 2.0%

NASDAQ:HALO opened at $65.87 on Friday. The company has a market cap of $7.80 billion, a PE ratio of 26.45, a P/E/G ratio of 0.26 and a beta of 0.89. Halozyme Therapeutics has a twelve month low of $47.50 and a twelve month high of $82.22. The company has a current ratio of 4.66, a quick ratio of 3.66 and a debt-to-equity ratio of 43.89. The company’s 50 day moving average is $66.05 and its two-hundred day moving average is $68.60.

Halozyme Therapeutics (NASDAQ:HALO) last released its earnings results on Tuesday, February 17th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of $1.92 by ($2.16). The company had revenue of $451.77 million for the quarter, compared to analysts’ expectations of $446.13 million. Halozyme Therapeutics had a return on equity of 136.12% and a net margin of 22.69%.The firm’s revenue for the quarter was up 51.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.26 EPS. Analysts anticipate that Halozyme Therapeutics will post 7.68 EPS for the current year.

Insiders Place Their Bets

In other Halozyme Therapeutics news, CEO Helen Torley sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $64.24, for a total transaction of $1,284,800.00. Following the completion of the transaction, the chief executive officer directly owned 767,780 shares of the company’s stock, valued at approximately $49,322,187.20. This trade represents a 2.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Cortney Caudill sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $67.80, for a total transaction of $1,356,000.00. Following the transaction, the chief operating officer directly owned 14,366 shares of the company’s stock, valued at $974,014.80. This represents a 58.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 100,482 shares of company stock valued at $6,860,342. 2.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Halozyme Therapeutics

Institutional investors have recently bought and sold shares of the business. DLD Asset Management LP increased its holdings in shares of Halozyme Therapeutics by 20.0% during the 3rd quarter. DLD Asset Management LP now owns 30,000,000 shares of the biopharmaceutical company’s stock valued at $2,200,200,000 after purchasing an additional 5,000,000 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Halozyme Therapeutics by 29.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,290,665 shares of the biopharmaceutical company’s stock valued at $241,337,000 after purchasing an additional 749,484 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Halozyme Therapeutics by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,104,157 shares of the biopharmaceutical company’s stock valued at $141,613,000 after purchasing an additional 25,731 shares in the last quarter. Norges Bank purchased a new position in shares of Halozyme Therapeutics during the 4th quarter valued at approximately $128,201,000. Finally, William Blair Investment Management LLC purchased a new position in shares of Halozyme Therapeutics during the 4th quarter valued at approximately $124,031,000. 97.79% of the stock is owned by hedge funds and other 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.