Halozyme Therapeutics (NASDAQ:HALO) Hits New 12-Month High – What’s Next?

Halozyme Therapeutics, Inc. (NASDAQ:HALO) shares hit a new 52-week high during mid-day trading on Tuesday. The company traded as high as $128.35 and last traded at $127.55, with a volume of 58,059 shares traded. The stock had previously closed at $128.01.

Analysts Set New Price Targets

HALO has been the topic of several recent analyst reports. Weiss Ratings raised Halozyme Therapeutics from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, August 31st. Leerink Partners upgraded Halozyme Therapeutics from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $83.00 to $110.00 in a research note on Friday, August 7th. Citigroup reissued a “market outperform” rating on shares of Halozyme Therapeutics in a report on Friday, August 7th. Wall Street Zen upgraded shares of Halozyme Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Finally, Zacks Research upgraded shares of Halozyme Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 13th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Halozyme Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $99.55.

Halozyme Therapeutics Price Performance

The stock has a fifty day moving average of $111.72 and a two-hundred day moving average of $82.31. The stock has a market capitalization of $14.50 billion, a price-to-earnings ratio of 38.17, a PEG ratio of 0.47 and a beta of 0.88. The company has a current ratio of 2.71, a quick ratio of 2.31 and a debt-to-equity ratio of 13.50.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.49. The firm had revenue of $481.00 million during the quarter, compared to the consensus estimate of $402.28 million. Halozyme Therapeutics had a return on equity of 260.98% and a net margin of 24.86%. The business’s revenue for the quarter was up 47.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.54 EPS. Halozyme Therapeutics has set its FY 2026 guidance at 8.650-9.000 EPS. As a group, equities research analysts forecast that Halozyme Therapeutics, Inc. will post 8.31 earnings per share for the current year.

Insider Activity

In related news, Director Matthew L. Posard sold 5,230 shares of the company’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $108.54, for a total transaction of $567,664.20. Following the transaction, the director owned 53,609 shares in the company, valued at $5,818,720.86. This represents a 8.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Helen Torley sold 20,000 shares of the stock in a transaction dated Thursday, October 8th. The stock was sold at an average price of $109.40, for a total transaction of $2,188,000.00. Following the sale, the chief executive officer directly owned 767,780 shares in the company, valued at approximately $83,995,132. This represents a 2.54% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 125,852 shares of company stock worth $13,538,046. 2.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Halozyme Therapeutics

A number of institutional investors have recently modified their holdings of HALO. Bank of America Corp DE bought a new position in shares of Halozyme Therapeutics in the second quarter worth about $214,504,000. William Blair Investment Management LLC bought a new stake in shares of Halozyme Therapeutics during the second quarter valued at approximately $196,540,000. Jupiter Topco LLC bought a new stake in shares of Halozyme Therapeutics during the second quarter valued at approximately $105,570,000. Caisse de depot et placement du Quebec bought a new stake in shares of Halozyme Therapeutics during the second quarter valued at approximately $83,940,000. Finally, Congress Asset Management Co. increased its holdings in shares of Halozyme Therapeutics by 85.6% in the third quarter. Congress Asset Management Co. now owns 2,281,615 shares of the biopharmaceutical company’s stock valued at $251,890,000 after purchasing an additional 1,052,509 shares in the last quarter. 97.79% of the stock is owned by institutional investors.

About Halozyme Therapeutics

Halozyme Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing drug-delivery technologies that can improve the administration of injectable medicines. The company’s primary platform, ENHANZE, uses a proprietary recombinant human hyaluronidase enzyme to facilitate the subcutaneous delivery of biologic drugs and other injectable therapies that may otherwise require intravenous infusion.

Halozyme licenses its technologies to pharmaceutical and biotechnology companies, which use them in a range of marketed and investigational products.