Halozyme Therapeutics (NASDAQ:HALO) Sets New 52-Week High at $58.58

Halozyme Therapeutics, Inc. (NASDAQ:HALO)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $58.58 and last traded at $57.81, with a volume of 240970 shares. The stock had previously closed at $55.99.

Wall Street Analyst Weigh In

HALO has been the subject of several research analyst reports. TD Cowen raised their price objective on Halozyme Therapeutics from $59.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. 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. JPMorgan Chase & Co. reduced their price objective on Halozyme Therapeutics from $53.00 to $52.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. JMP Securities reduced their price objective on Halozyme Therapeutics from $72.00 to $71.00 and set a “market outperform” rating for the company in a research note on Wednesday, May 8th. Finally, The Goldman Sachs Group lifted their price target on Halozyme Therapeutics from $44.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $59.44.

Halozyme Therapeutics Trading Up 2.9 %

The company has a current ratio of 6.64, a quick ratio of 5.36 and a debt-to-equity ratio of 8.44. The company has a fifty day simple moving average of $52.75 and a 200-day simple moving average of $44.47. The company has a market capitalization of $7.33 billion, a PE ratio of 23.14, a PEG ratio of 0.56 and a beta of 1.27.

Halozyme Therapeutics (NASDAQ:HALO) last issued its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.18. Halozyme Therapeutics had a return on equity of 225.71% and a net margin of 36.94%. The company had revenue of $231.40 million during the quarter, compared to analysts’ expectations of $204.94 million. During the same period in the prior year, the business earned $0.68 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. Analysts predict that Halozyme Therapeutics, Inc. will post 3.66 EPS for the current year.

Insider Activity

In other news, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $45.38, for a total value of $453,800.00. Following the transaction, the senior vice president now owns 168,176 shares in the company, valued at approximately $7,631,826.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Halozyme Therapeutics news, CFO Nicole Labrosse sold 5,000 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $53.93, for a total value of $269,650.00. Following the completion of the transaction, the chief financial officer now owns 15,480 shares in the company, valued at $834,836.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $45.38, for a total value of $453,800.00. Following the completion of the transaction, the senior vice president now owns 168,176 shares of the company’s stock, valued at approximately $7,631,826.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,000 shares of company stock worth $2,294,050. 2.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. International Assets Investment Management LLC purchased a new position in shares of Halozyme Therapeutics in the fourth quarter valued at $1,030,000. Mirae Asset Global Investments Co. Ltd. increased its position in Halozyme Therapeutics by 0.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 76,472 shares of the biopharmaceutical company’s stock worth $2,826,000 after purchasing an additional 674 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in Halozyme Therapeutics during the 4th quarter worth about $1,371,000. Cornercap Investment Counsel Inc. increased its position in Halozyme Therapeutics by 130.9% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 28,085 shares of the biopharmaceutical company’s stock worth $1,038,000 after purchasing an additional 15,924 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Halozyme Therapeutics during the 4th quarter worth about $196,000. Hedge funds and other institutional investors own 97.79% of the company’s stock.

About Halozyme Therapeutics

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.