Halozyme Therapeutics (NASDAQ:HALO) Price Target Cut to $57.00 by Analysts at Wells Fargo & Company

Halozyme Therapeutics (NASDAQ:HALO) had its target price lowered by stock analysts at Wells Fargo & Company from $62.00 to $57.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 6.60% from the stock’s previous close.

HALO has been the topic of a number of other research reports. Piper Sandler boosted their price target on Halozyme Therapeutics from $52.00 to $53.00 and gave the stock a “neutral” rating in a research report on Friday. Cowen restated a “buy” rating on shares of Halozyme Therapeutics in a research note on Friday, October 18th. JMP Securities upped their price target on shares of Halozyme Therapeutics from $72.00 to $73.00 and gave the stock a “market outperform” rating in a report on Friday, November 1st. JPMorgan Chase & Co. downgraded shares of Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $52.00 to $57.00 in a report on Thursday, September 19th. Finally, HC Wainwright upped their price target on shares of Halozyme Therapeutics from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Friday. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Halozyme Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.89.

Halozyme Therapeutics Stock Up 1.3 %

Shares of NASDAQ:HALO traded up $0.67 during midday trading on Monday, reaching $53.47. The company had a trading volume of 287,445 shares, compared to its average volume of 1,556,129. The company has a quick ratio of 9.15, a current ratio of 10.36 and a debt-to-equity ratio of 3.32. The business’s 50 day moving average price is $50.14 and its 200 day moving average price is $54.02. The stock has a market cap of $6.80 billion, a PE ratio of 17.71, a P/E/G ratio of 0.44 and a beta of 1.24. Halozyme Therapeutics has a 1-year low of $33.15 and a 1-year high of $65.53.

Insider Buying and Selling

In other Halozyme Therapeutics news, Director Jeffrey William Henderson sold 10,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $50.01, for a total value of $500,100.00. Following the completion of the transaction, the director now owns 43,611 shares of the company’s stock, valued at approximately $2,180,986.11. The trade was a 18.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Halozyme Therapeutics

A number of hedge funds have recently bought and sold shares of HALO. RPg Family Wealth Advisory LLC purchased a new stake in shares of Halozyme Therapeutics during the 3rd quarter valued at about $1,886,000. Segall Bryant & Hamill LLC boosted its stake in Halozyme Therapeutics by 16.3% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 355,176 shares of the biopharmaceutical company’s stock worth $20,330,000 after purchasing an additional 49,856 shares during the period. Retirement Systems of Alabama boosted its stake in Halozyme Therapeutics by 23.5% in the 3rd quarter. Retirement Systems of Alabama now owns 389,268 shares of the biopharmaceutical company’s stock worth $22,282,000 after purchasing an additional 74,173 shares during the period. Creative Planning boosted its stake in Halozyme Therapeutics by 43.2% in the 2nd quarter. Creative Planning now owns 37,291 shares of the biopharmaceutical company’s stock worth $1,953,000 after purchasing an additional 11,249 shares during the period. Finally, South Street Advisors LLC bought a new position in Halozyme Therapeutics in the 3rd quarter worth approximately $9,812,000. 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.