Halozyme Therapeutics (NASDAQ:HALO) Price Target Raised to $73.00

Halozyme Therapeutics (NASDAQ:HALO) had its price target boosted by analysts at JMP Securities from $72.00 to $73.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “market outperform” rating on the biopharmaceutical company’s stock. JMP Securities’ price objective indicates a potential upside of 28.18% from the stock’s current price.

Several other equities research analysts have also recently issued reports on HALO. HC Wainwright lifted their target price on shares of Halozyme Therapeutics from $65.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday. Wells Fargo & Company cut shares of Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $58.00 to $62.00 in a research note on Monday, October 7th. JPMorgan Chase & Co. lowered shares of Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $52.00 to $57.00 in a research note on Thursday, September 19th. The Goldman Sachs Group upped 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. Finally, Cowen reiterated a “buy” rating on shares of Halozyme Therapeutics in a research report on Friday, October 18th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Halozyme Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $61.00.

Halozyme Therapeutics Stock Up 12.6 %

Shares of NASDAQ HALO opened at $56.95 on Friday. Halozyme Therapeutics has a 52-week low of $33.15 and a 52-week high of $65.53. The company has a quick ratio of 6.21, a current ratio of 7.41 and a debt-to-equity ratio of 5.19. The company’s 50-day simple moving average is $57.32 and its 200-day simple moving average is $51.82. The firm has a market cap of $7.21 billion, a price-to-earnings ratio of 22.07, a price-to-earnings-growth ratio of 0.49 and a beta of 1.27.

Halozyme Therapeutics (NASDAQ:HALO) last posted its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.18. The company had revenue of $231.40 million for the quarter, compared to analysts’ expectations of $204.94 million. Halozyme Therapeutics had a return on equity of 195.80% and a net margin of 38.62%. Halozyme Therapeutics’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.68 EPS. Equities analysts predict that Halozyme Therapeutics will post 3.71 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Michael J. Labarre sold 10,000 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $53.26, for a total value of $532,600.00. Following the transaction, the senior vice president now owns 173,756 shares of the company’s stock, valued at $9,254,244.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $53.26, for a total value of $532,600.00. Following the sale, the senior vice president now directly owns 173,756 shares in the company, valued at approximately $9,254,244.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matthew L. Posard sold 9,881 shares of the business’s stock in a transaction on 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 directly owns 69,874 shares of the company’s stock, 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. Insiders sold a total of 89,881 shares of company stock valued at $5,169,834 over the last quarter. 2.40% of the stock is owned by insiders.

Institutional Trading of Halozyme Therapeutics

A number of large investors have recently made changes to their positions in HALO. GAMMA Investing LLC lifted its stake in Halozyme Therapeutics by 96.6% in 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 during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Halozyme Therapeutics in the 2nd quarter valued at $33,000. Whittier Trust Co. purchased a new stake in shares of Halozyme Therapeutics during the 1st quarter worth $27,000. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Halozyme Therapeutics during the 2nd quarter worth $49,000. Finally, Toth Financial Advisory Corp acquired a new position in shares of Halozyme Therapeutics during the third quarter worth $57,000. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

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.