Halozyme Therapeutics’ (HALO) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Halozyme Therapeutics (NASDAQ:HALO) in a research report sent to investors on Friday, Benzinga reports. The firm currently has a $65.00 price objective on the biopharmaceutical company’s stock.

Several other research firms have also issued reports on HALO. Benchmark restated a “buy” rating and issued a $60.00 price objective on shares of Halozyme Therapeutics in a research note on Thursday, August 8th. TD Cowen raised their price target on Halozyme Therapeutics from $59.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. downgraded shares of Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $52.00 to $57.00 in a report on Thursday, September 19th. Cowen restated a “buy” rating on shares of Halozyme Therapeutics in a research note on Friday, October 18th. Finally, The Goldman Sachs Group upped their price target on shares of Halozyme Therapeutics from $44.00 to $49.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.44.

Halozyme Therapeutics Stock Down 0.1 %

HALO stock traded down $0.05 during mid-day trading on Friday, reaching $49.25. The company had a trading volume of 789,585 shares, compared to its average volume of 1,431,939. The company has a market capitalization of $6.24 billion, a price-to-earnings ratio of 19.09, a PEG ratio of 0.50 and a beta of 1.27. Halozyme Therapeutics has a 52 week low of $32.95 and a 52 week high of $65.53. The stock has a 50 day simple moving average of $57.99 and a two-hundred day simple moving average of $51.50. 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 (NASDAQ:HALO) last issued its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.18. Halozyme Therapeutics had a net margin of 38.62% and a return on equity of 195.80%. The business had revenue of $231.40 million for the quarter, compared to the consensus estimate of $204.94 million. During the same period in the previous year, the company earned $0.68 earnings per share. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, equities analysts predict that Halozyme Therapeutics will post 3.71 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $61.75, for a total transaction of $617,500.00. Following the sale, the senior vice president now owns 168,176 shares of the company’s stock, valued at $10,384,868. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, SVP Michael J. Labarre sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $61.75, for a total transaction of $617,500.00. Following the completion of the sale, the senior vice president now owns 168,176 shares of the company’s stock, valued at $10,384,868. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Matthew L. Posard sold 9,881 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $57.70, for a total transaction of $570,133.70. Following the sale, the director now owns 69,874 shares in the company, valued at $4,031,729.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,881 shares of company stock worth $5,169,834. Corporate insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Handelsbanken Fonder AB increased its stake in shares of Halozyme Therapeutics by 76.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 1,969,169 shares of the biopharmaceutical company’s stock valued at $112,715,000 after purchasing an additional 856,200 shares during the last quarter. TD Asset Management Inc lifted its holdings in shares of Halozyme Therapeutics by 28.1% in the first 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 during the last quarter. Boston Trust Walden Corp acquired a new stake in shares of Halozyme Therapeutics in the 2nd quarter valued at approximately $23,211,000. Swedbank AB bought a new stake in shares of Halozyme Therapeutics during the 1st quarter valued at approximately $13,927,000. Finally, Epoch Investment Partners Inc. increased its position in Halozyme Therapeutics by 23.3% during the 1st quarter. Epoch Investment Partners Inc. now owns 1,433,612 shares of the biopharmaceutical company’s stock worth $58,319,000 after purchasing an additional 270,579 shares in the last quarter. 97.79% of the stock is currently owned by institutional investors and hedge funds.

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.