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

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

Several other research firms have also issued reports on HALO. The Goldman Sachs Group increased their price objective on Halozyme Therapeutics from $44.00 to $49.00 and gave the stock a neutral rating in a research note on Monday, July 22nd. Morgan Stanley lifted their price target on shares of Halozyme Therapeutics from $59.00 to $64.00 and gave the company an overweight rating in a report on Wednesday, August 7th. TD Cowen upped their price objective on shares of Halozyme Therapeutics from $59.00 to $65.00 and gave the stock a buy rating in a research note on Wednesday, August 7th. Piper Sandler cut shares of Halozyme Therapeutics from an overweight rating to a neutral rating and lifted their target price for the company from $48.00 to $51.00 in a research note on Friday, June 7th. Finally, JPMorgan Chase & Co. decreased their price target on Halozyme Therapeutics from $53.00 to $52.00 and set an overweight rating on the stock in a research report on Tuesday, August 6th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Halozyme Therapeutics currently has a consensus rating of Moderate Buy and an average price target of $59.44.

Halozyme Therapeutics Trading Up 2.9 %

Shares of HALO stock opened at $62.30 on Friday. The company has a debt-to-equity ratio of 5.19, a quick ratio of 6.21 and a current ratio of 7.41. The firm has a fifty day moving average of $57.35 and a 200-day moving average of $48.26. Halozyme Therapeutics has a 52-week low of $32.83 and a 52-week high of $65.53. The stock has a market cap of $7.89 billion, a price-to-earnings ratio of 25.74, a P/E/G ratio of 0.57 and a beta of 1.28.

Halozyme Therapeutics (NASDAQ:HALO) last released its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.18. Halozyme Therapeutics had a return on equity of 195.80% and a net margin of 38.62%. The company 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 business earned $0.68 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. On average, equities research analysts forecast that Halozyme Therapeutics will post 3.7 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Nicole Labrosse sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $51.93, for a total transaction of $519,300.00. Following the completion of the sale, the chief financial officer now directly owns 15,480 shares of the company’s stock, valued at $803,876.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Halozyme Therapeutics news, 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 value of $570,133.70. Following the transaction, the director now owns 69,874 shares of the company’s stock, valued at $4,031,729.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Nicole Labrosse sold 10,000 shares of the business’s 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 transaction, the chief financial officer now owns 15,480 shares of the company’s stock, valued at $803,876.40. The disclosure for this sale can be found here. Insiders have sold 74,881 shares of company stock valued at $4,267,884 over the last 90 days. 2.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of HALO. Rise Advisors LLC acquired a new stake in Halozyme Therapeutics in the first quarter worth $25,000. Whittier Trust Co. acquired a new stake in Halozyme Therapeutics during the 1st quarter worth $27,000. GAMMA Investing LLC lifted its holdings in Halozyme Therapeutics by 96.6% during the second quarter. GAMMA Investing LLC now owns 517 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 254 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Halozyme Therapeutics in the second quarter valued at about $33,000. Finally, Principal Securities Inc. bought a new stake in shares of Halozyme Therapeutics in the fourth quarter worth about $34,000. 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.